The Kraft Heinz Company in order to boost its sauce business, planning to acquire Assan Foods from privately held Turkish conglomerate Kibar Holding for approximately $100 million. Istanbul based Assan Foods was established in Balikesir in 1998 as a Kibar Holding investment in the food sector.
- The deal will offers Kraft Heinz the opportunity to build its retail and foodservice business across Europe, the Middle East and Africa.
- Assan Foods manufactures and sells a wide range of products including tomato paste, ketchup, mayonnaise, and pasta and meat sauces that appeal to a variety of international cuisines and are sold under brands such as Colorado, Kingtom, and Oba, as well as private label.
The major deals and expansions by Kraft Heinz are featured below:
June 2021: The Kraft Heinz Company had completed the sale of its nuts business to Hormel Foods Corporation in a cash transaction for $3.35 billion. Kraft Heinz would divest most products sold under the Planters brand, including single variety and mixed nuts, trail mix, Nut-ritionproducts, Cheez Balls, and Cheez Curls, as well as Corn Nuts branded products.
April 2021: HEINZ is partnering with nonprofit restaurant equality organization The LEE Initiative and Southern Restaurants for Racial Justice (SRRJ) in a collective effort to preserve the legacy of Black-owned restaurants through a grant program and other resources to help sustain long-term business health and success. The partnership is about more than just saving restaurants; its about preserving Black culture today and into the future.
Sep 2020: The Kraft Heinz Company had sold its Natural, Grated, Cultured and Specialty cheese businesses to a U.S. affiliate of Groupe Lactalis for a purchase price of $3.2 billion USD.
Sep 2019: Kraft is partnering with Crayola to turn the iconic Kraft Mac & Cheese boxes into a blank canvas for kids to create, draw, and color. The limited edition boxes give parents an easy way to turn the nightly meal time prep into an opportunity for kids to tap into their creativity.
About The Kraft Heinz Company
The Kraft Heinz Company, headquartered at Chicago and Illinois, the USA, is one of the largest food and beverage companies in the world. The Kraft Heinz formed after merger of Kraft Foods and H.J. Heinz company in 2015. The company has dedicated employees in more than 40 countries. The companys profile includs global brands such as Boca Burger, Gevalia, Grey Poupon, Oscar Mayer, Philadelphia Cream Cheese, Planters, Primal Kitchen, and Wattie.