Kraft Heinz acquires Primal Nutrition
On Nov. 30, 2018, The Kraft Heinz Company announced today it had entered into a definitive agreement to acquire Primal Nutrition, maker of Primal Kitchen branded products, for approximately $200 million.
Primal Kitchen is a better-for-you brand focused mainly on condiments, sauces and dressings including mayonnaise, salad dressings and avocado oil, with growing product lines in healthy snacks among other categories. The brand, founded by Mark Sisson and Morgan Buehler, has a significant presence in e-commerce and natural channels, and is expected to generate approximately $50 million in net sales this year.
Primal Kitchen will join Kraft Heinz’s Springboard platform that was created to partner with founders and brands that will disrupt the food industry. Primal Kitchen will leverage Kraft Heinz’s assets and infrastructure, while operating as an autonomous company and will continue to be led by its current leadership team. Its headquarters will remain in Oxnard, California.
“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,” said Paulo Basilio, US Zone President for Kraft Heinz.
Mark Sisson, co-founder of Primal Kitchen said, “My mission has always been to change the way the world eats. 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.”
The transaction is subject to be completed in early 2019.