The Kraft Heinz Company (Nasdaq: KHC) has reached an agreement to acquire an 85 percent stake in Germany-based Just Spices GmbH. The remaining 15 percent ownership stake will be retained by Just Spices’ three founders, who will continue on with the company and focus on driving the business and its international growth.
Launched in 2014, Just Spices is an innovative start-up, trailblazing the high-growth taste elevation category with annual sales of approximately €60 million. Its 170-plus product portfolio includes spice blends, salad dressings, and easy-to-prepare “In Minutes” blends for diverse meal occasions ranging from breakfast and light snacks to salads and baking, with a broad range of savory, sweet, classic and exotic flavors. Just Spices’ rapidly growing spice revolution 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.
Just Spices’ data-driven product innovation has successfully been geared towards the needs of today’s Gen Y and Gen Z consumer, with approximately 1.6 million followers across the company’s social media platforms. Its advanced analytics knowledge has enabled Just Spices to create and identify early consumer trend signals, foster product innovation, understand customer sentiment, and optimize consumer targeting.
The deal is subject to customary closing conditions, including merger control approval, and is expected to be completed in the first quarter of 2022.