Press release
Kraft Heinz Completes Purchase of Assan Foods, Expanding Presence in Key Growth Markets
Acquisition Aligns with Kraft Heinz’s International Growth Strategy Focused on Taste Elevation and Foodservice PITTSBURGH & CHICAGO--(BUSINESS WIRE)-- The
About this update from The Kraft Heinz Company
[{"type":"text","content":"\nAcquisition Aligns with Kraft Heinz’s International Growth Strategy Focused on Taste Elevation and Foodservice\n\n PITTSBURGH & CHICAGO--(BUSINESS WIRE)--\nThe Kraft Heinz Company (Nasdaq: KHC) (“Kraft Heinz”) announced today that it has completed the purchase of Assan Foods from privately held Turkish conglomerate Kibar Holding. The proposed deal was first announced on June 11, 2021.\n\nAssan Foods, headquartered in Istanbul, is a rapidly growing sauces-focused business with local manufacturing facilities in Balikesir and Izmir, Turkey. Assan Foods has been a certified Kraft Heinz production partner since 2019 and offers Kraft Heinz the opportunity to further build its retail and foodservice businesses across Europe, the Middle East, and Africa.\n\n“Assan Foods makes high-quality sauces and tomato products that we believe fit perfectly into our International Zone’s growth strategy focused on Taste Elevation, and expands our presence in a part of the world that holds tremendous long-term opportunity for our company and our brands,” said Rafa Oliveira, International Zone President at Kraft Heinz. “We’re excited to officially welcome Assan Foods employees to the Kraft Heinz table.”\n\nAssan Foods was established in Balikesir in 1998 as a Kibar Holding investment in the food sector and evolved into one of the top producers in the region. 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. Its products are sold under brands such as Colorado, Kingtom, and Oba, as well as private label.\n\nABOUT THE KRAFT HEINZ COMPANY\n\nWe are driving transformation at The Kraft Heinz Company (Nasdaq: KHC), inspired by our Purpose, Let’s Make Life Delicious. Consumers are at the center of everything we do. With 2020 net sales of approximately $26 billion, we are committed to growing our iconic and emerging food and beverage brands on a global scale. We leverage our scale and agility to unleash the full power of Kraft Heinz across a portfolio of six consumer-driven product platforms. As global citizens, we’re dedicated to making a sustainable, ethical impact while helping feed the world in healthy, responsible ways. Learn more about our journey by visiting www.kraftheinzcompany.com or following us on LinkedIn and Twitt...