In a deal first proposed December 10, 2021, The Kraft Heinz Co. has completed its acquisition of an 85% stake in Germany-based Just Spices GmbH.
The remaining 15% ownership stake has been retained by Just Spices’ three founders, who are staying with the company, focusing on driving the business and its international growth.
Just Spices was launched in 2014 as a start-up, leading the high-growth taste elevation category with annual sales of about €60 million. Its 170-plus product portfolio includes spice blends, salad dressings, easy-to-prepare “In Minutes” blends, and organic offerings for diverse meal occasions ranging from breakfast and light snacks to salads and baking, with a range of savory, sweet, classic, and exotic flavors. Just Spices’ growing business sells approximately 70% of its ready-made and one-step spice blends directly to consumers, with its remaining sales through major grocery retailers both in-store and online in Germany, Spain, Austria, and Switzerland.
“In 2021, we announced four acquisitions to further accelerate our growth agenda and our ambition to be No. 1 in taste elevation around the world,” said Rafael Oliveira, EVP & president, international markets at Kraft Heinz. “These include our acquisition of a majority stake in Just Spices, along with our intention to acquire a majority stake of the outstanding equity interests in Brazilian food company Hemmer, our investment in BR Spices in Brazil, and our acquisition of Assan Foods in Turkey. With Just Spices, we will leverage Kraft Heinz’s scale and agility to accelerate the business in the fast-growing taste elevation market beyond the company’s current German base and its recent market entries in Spain, Austria, and Switzerland. We also see tremendous potential to further strengthen and enhance Kraft Heinz’s own direct-to-consumer operations and go-to-market expansion.”
“We are extremely excited by the expansion opportunity that comes from combining Just Spices’ innovation and brand power with the Kraft Heinz team and the scale and knowledge of international markets they bring to the table,” said Florian Falk, Just Spices CEO and one of the company’s three founders.