Kraft Heinz to Purchase Turkish Assan Foods In $100M Acquisition

On Friday, Kraft Heinz announced that it has come to an agreement to acquire Assan Foods from a private Turkish conglomerate Kibar Holding. This deal is valued at about $100 million.

This acquisition would help Kraft Heinz’s International Growth Strategy Focused on Taste Elevation and Foodservice as Assan Foods has a rapidly growing sauce-focused business with local manufacturing facilities in Balikesir and Izmir which have been a certified production partner for Kraft Heinz.

Moreover this acquisition offers Kraft Heinz the opportunity to build its retail and foodservice business across Europe, the Middle East and Africa. In a statement, Rafael Oliveira President of at Kraft Heinz 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.”