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Kraft Heinz to purchase Turkey sauces agency Assan Meals

Kraft Heinz has acquired Assan Meals, a Turkey-based condiments provider that has been one of many US large’s co-manufacturers.

Assan Meals, arrange in 1998, has labored with Kraft Heinz for 2 years. From two factories, the corporate manufactures merchandise together with ketchup and mayonnaise, in addition to pasta and meat sauces.

The enterprise, which was a part of the Turkish conglomerate Kibar Holding, markets merchandise underneath manufacturers equivalent to Colorado, Kingtom and Oba, in addition to providing a private-label service.

Kraft Heinz believes the acquisition will assist it construct its retail and foodservice companies “throughout Europe, the Center East and Africa”. Assan Meals, it mentioned, exports to round 50 markets.

Rafael Oliveira, president of Kraft Heinz’s worldwide division, described Assan Meals as “a high-performance organisation that brings best-in-class native innovation and manufacturing”.

Oliveira mentioned the Istanbul-based firm additionally has a “vital distribution community” within the foodservice channel.

Monetary phrases weren’t disclosed.

Assan Meals’ factories are in Balikesir in north-western Turkey and in Izmir, greater than 120 miles additional south. It employs 400 workers.

The deal, which Kraft Heinz expects to finish within the second half of the yr, is the primary full acquisition since Miguel Patricio was employed as CEO in 2019.

The ketchup, soup and baked-beans producer has made minor investments in fledgling companies.

Nonetheless, the accent of Kraft Heinz’s M&A exercise in recent times has centered on disposals as Patricio sought to re-shape the enterprise and pay down money owed.

Earlier this yr, the corporate offered its Planters snacks enterprise to US peer Hormel Meals.

Final September, Kraft Heinz offered a clutch of cheese property to French dairy group Lactalis.

Simply Meals evaluation, September 2020: “This plan places the long run in our palms” – key takeaways from Kraft Heinz’s investor day

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