Kraft Heinz is scooping up a German startup that makes spice blends, and has attracted a growing following on social media.
Chicago-based Kraft Heinz (NASDAQ: KHC) said Friday that it's acquiring Just Spices, a startup based in Dusseldorf that sells spice blends, pure spices and quick-fix meal kits online and in retail stores. Terms of the deal weren't disclosed.
Just Spices does annual sales of around €60 million, or around $67 million USD, according to Kraft Heinz. It has a portfolio of 170 products, including salad dressings and spice blends.
Kraft Heinz said it's acquiring 85% of the business, with the remaining 15% being retained by Just Spices’ three founders, Florian Falk, Ole Strohschnieder and Bela Seebach. The founders will remain with the company and focus on driving international growth, Kraft Heinz said. Just Spices has 150 total employees.
Just Spices sells 70% of its ready-made and one-step spice blends directly to consumers, and has found success on social media. It has more than 1.6 million followers across Instagram, TikTok and Facebook.
The deal is expected to close in the first quarter of 2022.
