PITTSBURGH & CHICAGO--(BUSINESS WIRE)--Apr. 4, 2019--
Evolv Ventures, the $100 million venture fund backed by Kraft Heinz,
today announced GrubMarket as its first investment. GrubMarket is a
platform that sources local food directly from producers and delivers it
directly to businesses and consumers. Terms of the agreement were not
released.
This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20190404005601/en/
“We’re excited to invest in GrubMarket, a platform that is disrupting
the food wholesale market,” said Steve Sanger, General Partner of Evolv
Ventures. “GrubMarket plans to grow its presence and product offerings
through both geographic and product expansion. Evolv Ventures is pleased
to support its innovative founders.”
Since Evolv Ventures announced the formation of the fund in October
2018, the fund has quickly established itself by hiring an experienced
team of investors and entrepreneurs and is actively working and
investing with leading companies in the space, such as GrubMarket.
ABOUT EVOLV VENTURES
Evolv Ventures Capital Fund is a $100 million venture fund backed by
Kraft Heinz that will invest in emerging tech companies transforming the
food industry. The venture fund aims to accelerate Kraft Heinz’s
exposure to emerging technologies and businesses and leverage Kraft
Heinz’s position in the industry to become the most value-added investor
in the space. To learn more, visit http://www.evolv.vc or
follow us on LinkedIn and Twitter.
ABOUT THE KRAFT HEINZ COMPANY
For 150 years, Kraft Heinz has produced some of the world’s most beloved
products at The Kraft Heinz Company (NASDAQ: KHC). Kraft Heinz’s vision
is To Be the Best Food Company, Growing a Better World.
Kraft Heinz is one of the largest global food and beverage companies,
with 2018 net sales of approximately $26 billion. Kraft Heinz’s
portfolio is a diverse mix of iconic and emerging brands. As the
guardians of these brands and the creators of innovative new products,
Kraft Heinz is dedicated to the sustainable health of our people and our
planet. To learn more, visit http://www.kraftheinzcompany.com/ or
follow us on LinkedIn and Twitter.
FORWARD-LOOKING STATEMENTS
This press release contains a number of forward-looking statements.
Words such as “plan,” “invest,” “grow,” “support,” “work,” “aim,”
“accelerate,” “leverage,” “will,” and variations of such words and
similar future or conditional expressions are intended to identify
forward-looking statements. Examples of forward-looking statements
include, but are not limited to, statements regarding Kraft Heinz’s
investment and growth plans and anticipated impacts of the investment.
These forward-looking statements are not guarantees of future
performance and are subject to a number of risks and uncertainties, many
of which are difficult to predict and beyond Kraft Heinz’s control.
Important factors that may affect Kraft Heinz’s business and operations
and that may cause actual results to differ materially from those in the
forward-looking statements include, but are not limited to, operating in
a highly competitive industry; Kraft Heinz’s ability to predict,
identify, and interpret changes in consumer preferences and demand, to
offer new products to meet those changes, and to respond to competitive
innovation; changes in the retail landscape or the loss of key retail
customers; changes in relationships with significant customers or
suppliers; Kraft Heinz’s ability to maintain, extend, and expand its
reputation and brand image; Kraft Heinz’s ability to leverage its brand
value to compete against private label products; Kraft Heinz’s ability
to drive revenue growth in its key product categories, increase its
market share, or add products that are in faster-growing and more
profitable categories; product recalls or product liability claims;
unanticipated business disruptions; Kraft Heinz’s ability to identify,
complete, or realize the benefits from strategic acquisitions,
alliances, divestitures, joint ventures, or other investments; Kraft
Heinz’s ability to realize the anticipated benefits from prior or future
streamlining actions to reduce fixed costs, simplify or improve
processes, and improve its competitiveness; the execution of Kraft
Heinz’s international strategic initiatives; the impacts of Kraft
Heinz’s international operations; economic and political conditions in
the United States and in various other nations in which Kraft Heinz does
business; changes in Kraft Heinz’s management team or other key
personnel and Kraft Heinz’s ability to hire or retain key personnel or a
highly skilled and diverse global workforce; risks associated with
information technology and systems, including service interruptions,
misappropriation of data, or breaches of security; impacts of natural
events in the locations in which Kraft Heinz or its customers,
suppliers, distributors, or regulators operate; Kraft Heinz’s ownership
structure; Kraft Heinz’s indebtedness and ability to pay such
indebtedness; an impairment of the carrying value of goodwill or other
indefinite-lived intangible assets; exchange rate fluctuations;
volatility in commodity, energy, and other input costs; volatility in
the market value of all or a portion of the derivatives we use;
increased pension, labor and people-related expenses; compliance with
laws, regulations, and related interpretations and related legal claims
or other regulatory enforcement actions; Kraft Heinz’s ability to
protect intellectual property rights; tax law changes or
interpretations; the impact of future sales of Kraft Heinz’s common
stock in the public markets; Kraft Heinz’s ability to continue to pay a
regular dividend and the amounts of any such dividends; volatility of
capital markets and other macroeconomic factors; and other factors. For
additional information on these and other factors that could affect
Kraft Heinz’s forward-looking statements, see Kraft Heinz’s risk
factors, as they may be amended from time to time, set forth in its
filings with the Securities and Exchange Commission. Kraft Heinz
disclaims and does not undertake any obligation to update or revise any
forward-looking statement in this press release, except as required by
applicable law or regulation.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190404005601/en/
Source: The Kraft Heinz Company
Lynne Galia
Lynne.galia@kraftheinz.com