The Kraft Heinz Co. has agreed to acquire Primal Nutrition LLC for approximately $200 million. Primal is a better-for-you brand primarily focused on condiments, sauces, and dressings, including mayonnaise, salad dressings, and avocado oil, with growing product lines in healthy snacks and other categories. The company holds positions in both e-commerce and natural channels, and is expected to generate approximately $50 million in net sales this year.
Primal Kitchen was founded in 2015 by Mark Sisson and Morgan Buehler, with the goal of offering health-conscious consumers the best possible choices in condiments, sauces, dressings, and health snacks. The brand will join Kraft Heinz's Springboard platform, which partners with founders and brands that can disrupt the food industry. Primal Kitchen will leverage Kraft Heinz's assets and infrastructure while still operating as an autonomous company, led by its current leadership team at its current headquarters in Oxnard, Calif.
The transaction is subject to customary closing conditions and is expected to be completed in early 2019.
Related: Kraft Heinz Selling Canadian Cheese Business; Kraft Heinz Incubator Partners with Five Startups.
from Specialty Food News https://ift.tt/2QvqFHj
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