Kraft Heinz has entered an agreement to purchase Turkish sauce company Assan Foods from Kibar Holding in a deal worth around $100m. The acquirement is in line with Kraft Heinz’s international growth plan is focused on taste elevation and food service.
With this deal, Kraft Heinz anticipates building its retail and foodservice business across Europe, Africa, and the Middle East.
Kraft Heinz International Zone president Rafael Oliveira said: “We believe Assan Foods is a high-performance organization that brings best-in-class local innovation and production of sauces and tomato products, as well as a significant distribution network in the fast-growing foodservice channel, enabling us to further build our scale and agility by expanding the Heinz brand in Turkey, as well as our International Taste Elevation platform more broadly.”
Assan Foods are engaged in the production of tomato paste, ketchup, and mayonnaise, along with pasta and meat sauces. These products are sold under various brands such as Colorado, Kingtom, and Oba, as well as private labels.
Since 2019, Assan Foods has been a certified production partner for Kraft Heinz.