Kraft Heinz to acquire Primal Nutrition
Kraft Heinz announced that it has entered into a definitive agreement to acquire Primal Nutrition, the makers of the Primal Kitchen brand, for approximately $200 million.
Founded by Mark Sisson and Morgan Buehler, Primal Kitchen focuses on the creation of such better-for-you condiments, sauces and dressings as mayonnaise, salad dressings and avocado oil.
“The proposed partnership with Primal Kitchen is consistent with Kraft Heinz’s vision to be the best food company, growing a better world. The Primal Kitchen team has built an amazing portfolio of the world’s best-tasting, health-enhancing, real-food pantry staples,” Paulo Basilio, U.S. zone president at Kraft Heinz, said. “Primal Kitchen is an authentic, premium and growing brand that fits perfectly with our core condiments and Sauces categories, and we are excited to partner with the company’s strong existing team to drive growth across multiple categories going forward.”
Primal Kitchen will join Kraft Heinz under its Springboard platform, which was created to to partner with founders and brands that are looking to disrupt the food industry.
“My mission has always been to change the way the world eats. With that goal in mind, Primal Kitchen launched in 2015 to offer health-conscious consumers the best possible choices in condiments, sauces, dressings and healthy snacks,” Mark Sisson, co-founder of Primal Kitchen, said. “While our growth to date has exceeded all industry standards and expectations, our partnership with an industry leader like Kraft Heinz now offers an unrivaled opportunity to reach millions more of the consumers who have been seeking products like ours for years. Based on the significant time I’ve spent with the Kraft Heinz team, we share a common vision regarding the future of food and the importance of consumer choices. I look forward to working with them to grow this amazing brand.”
Primal Kitchen will continue to be led by its current leadership team and remain based in Oxnard, Calif. The transaction, subject to customary closing conditions, is expected to be completed in early 2019.
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