Kraft Heinz Signs Definitive Agreement to Acquire Primal Kitchen
Kraft Heinz has announced that it has entered into a definitive agreement to acquire Primal Kitchen branded products for approximately $200 million.
Primal Kitchen, owned by Primal Nutrition, is a food nutrition company focused on condiments, sauces, and dressings - including mayonnaise, salad dressings, and avocado oil.
It also has growing product lines in healthy snacks and other categories.
Primal Kitchen holds leading positions in both e-commerce and natural channels, Kraft said, and is expected to generate approximately $50 million in net sales this year.
“The proposed partnership with Primal Kitchen is consistent with Kraft Heinz’s vision to be the best food company, growing a better world. The Primal Kitchen team has built an amazing portfolio of the world’s best-tasting, health-enhancing, real-food pantry staples,” said Paulo Basilio, US zone president for Kraft Heinz.
“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’s strong existing team to drive growth across multiple categories going forward.”
Mark Sisson, Co-Founder of Primal Kitchen, said that his mission has always been to change the way the world eats, which led to the introduction of the brand aimed at health-conscious consumers.
“While our growth to date has exceeded all industry standards and expectations, our partnership with an industry leader like Kraft Heinz now offers an unrivalled opportunity to reach millions more of the consumers who have been seeking products like ours for years,” Sisson said.
“Based on the significant time I've spent with the Kraft Heinz team, we share a common vision regarding the future of food and the importance of consumer choices. I look forward to working with them to grow this amazing brand."
© 2018 Checkout – your source for the latest Irish retail news. Article by Aidan O’Sullivan. Click subscribe to sign up for the Checkout print edition.