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Kraft Scoops Up Paleo Condiments Firm Primal Nutrition
November 29, 2018
2 Min Read
Image courtesy of Primal Nutrition LLC
American food giant The Kraft Heinz Company is moving to acquire a brand of better-for-you Paleo condiments, salad dressings, and snacks, with the signing of a definitive agreement to acquire Primal Nutrition LLC, a release announced Thursday.
Under the terms of the deal, the company and its Primal Kitchen brands will be acquired by Kraft for $200 million. With strong positions in the e-commerce and natural channels, the food company said Primal Nutrition is poised to generate some $50 million in net sales during 2018.
“Primal Kitchen is an authentic, premium, and growing brand that fits perfectly with our core Condiments & Sauces categories, and we are excited to partner with the company’ strong existing team to drive growth across multiple categories,” U.S. Zone President for Kraft Heinz Paulo Basilio said in a statement.
When the transaction closes, Primal Nutrition will join Kraft Heinz as a part of Springboard, a platform created by Kraft to partner with startup firms with innovative products and technologies.
“Our partnership with an industry leader like Kraft Heinz now offers unrivaled opportunity to reach millions more of the consumers who have been seeking products like ours for years,” said a co-founder of Primal Kitchen, Mark Sisson, in the release. “Based on the significant time I have spent with the Kraft Heinz team, we share a common vision regarding the future of food and the importance of consumer choices.”
The leadership of Primal Nutrition will remain in place after the acquisition and its headquarters will remain in Oxnard, CA.
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