Kraft Heinz has struck a deal to purchase Brazil-based condiments provider Companhia Hemmer Indústria e Comércio.
The US ketchup, mayo and mustard main didn’t disclose the worth it has agreed to pay for the enterprise, often called Hemmer.
Rafael Oliveira, the president of Kraft Heinz’s worldwide enterprise, mentioned: “Hemmer is a legendary firm in Brazil, rising web gross sales considerably, and can deliver a scrumptious and various portfolio of merchandise to Kraft Heinz.”
Hemmer is predicated within the southern Brazilian metropolis of Blumenau. The corporate, arrange greater than 100 years in the past, markets a variety of condiments and sauces. together with mustard and ketchup.
The transfer for Hemmer is topic to native competitors approval in Brazil. The deal comes three months after Kraft Heinz introduced the acquisition of Assan Meals, a Turkey-based condiments provider and one of many US big’s co-manufacturers. The transaction was the primary full acquisition since Miguel Patricio was employed as Kraft Heinz CEO in 2019.
The ketchup, soup and baked-beans producer has made minor investments in fledgling corporations.
Nonetheless, the accent of Kraft Heinz’s M&A exercise lately has centered on disposals as Patricio sought to re-shape the enterprise and pay down money owed.
Earlier this 12 months, the corporate bought its Planters snacks enterprise to US peer Hormel Meals.
Final September, Kraft Heinz bought a clutch of cheese belongings to French dairy group Lactalis.