Kraft Heinz Completes Purchase of Assan Foods, Expanding Presence in Key Growth Markets
October 04 2021 - 9:30AM
Business Wire
Acquisition Aligns with Kraft Heinz’s
International Growth Strategy Focused on Taste Elevation and
Foodservice
The 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.
Assan 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.
“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.”
Assan 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.
ABOUT THE KRAFT HEINZ COMPANY
We 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
Twitter.
Forward-Looking Statements
This press release contains a number of forward-looking
statements. Words such as “expand,” “focus,” “grow,” “offer,”
“build,” “believe,” “hold,” “expect,” “intend,” “plan,” and
variations of such words and similar future or conditional
expressions are intended to identify forward-looking statements.
These statements include, but are not limited to, statements about
expected benefits of the proposed purchase, impacts of the proposed
purchase on Kraft Heinz’s business, financial results,
opportunities, and future plans, and other statements that are not
historical facts, each of which is based on Kraft Heinz’s current
beliefs, expectations, estimates, and projections. These
forward-looking statements are subject to a number of risks and
uncertainties, many of which are difficult to predict and beyond
Kraft Heinz’s control, which could cause actual results to differ
materially from those indicated in the forward-looking statements.
Those factors include, but are not limited to, Kraft Heinz’s
ability to achieve intended benefits of the purchase, the expected
costs of the transaction, the success of business transitions, and
the risk factors set forth in Kraft Heinz’s filings with the
Securities and Exchange Commission, including Kraft Heinz’s most
recently filed Annual Report on Form 10-K and subsequent reports on
Forms 10-Q and 8-K. Kraft Heinz disclaims and does not undertake
any obligation to update, revise, or withdraw any forward-looking
statement in this press release, except as required by applicable
law or regulation.
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Alex Abraham (media) alex.abraham@kraftheinz.com
Nigel Dickie, Director, Corporate and Government Affairs, Kraft
Heinz EMEA (media) nigel.dickie@kraftheinz.com Office phone : +44
20 3765 0570 Mobile : +44 773 657 2909
Christopher Jakubik, CFA (investors) ir@kraftheinz.com
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