Kraft Heinz finalizes acquisition of Primal Nutrition
January 7, 2019
The Kraft Heinz Co. has finalized its acquisition of Primal Nutrition, L.L.C., the maker of Primal Kitchen branded products, for approximately $200 million. Founded in 2015 by Mark Sisson and Morgan Buehler, Primal Kitchen offers a range of better-for-you condiments, sauces, dressings and snacks. The business is expected to generate approximately $50 million in net sales this year.
“Primal Kitchen is an authentic, premium and growing brand that complements our core condiments and sauces categories,” said Paulo Basilio, U.S. Zone president for Kraft Heinz. “We are excited to partner with the company’s strong team to drive growth across multiple categories and reach more consumers looking for these amazing products.”
Mr. Sisson, co-founder of Primal Kitchen, added, “Kraft Heinz recognizes the value of our Primal Kitchen mission and the consumer demand for it. This philosophy will stay with us as we leverage the resources of this new partnership to reach millions more of the consumers who have been seeking products like ours for years.”
Primal Kitchen will continue to operate under its current leadership team at its headquarters in Oxnard, Calif., while benefitting from Kraft Heinz’s assets and infrastructure.
Primal Kitchen joins Kraft Heinz under the Springboard platform. Kraft Heinz announced the launch of Springboard in March 2018 as a platform “dedicated to nurturing, scaling and accelerating growth of disruptive U.S. brands within the food and beverage space.”
By Eric Schroeder
Source: Food Business News