The Kraft Heinz Company KHC is committed to accelerating its international growth strategy focused on the Taste Elevation platform. In this regard, the company entered into an agreement to buy 85% stake in Germany-based Just Spices GmbH (“Just Spices”). The other 15% stake will be retained by Just Spices’ founders. Kraft Heinz expects to conclude the deal by the first quarter of 2022.
Just Spices supplies various spice blends, pure spices, and quick-fix meal kits. Just Spices’ data-driven product innovation is designed to meet the needs of Gen Y and Gen Z consumers. The company’s modern analytics knowledge helps it recognize early consumer trend signals, promote product innovation, grasp customer sentiment along optimize customer targeting.
Through this deal, Kraft Heinz expects to accelerate its growth strategy by ramping up its innovations and better-understanding consumers’ tastes and preferences. The buyout will enhance its direct-to-consumer operations and go-to-market expansion. Certainly, the combination of Just Spices’ innovation and brand power with Kraft Heinz’s team and scale bodes well.
In September 2020, Kraft Heinz laid out a new operating model that incorporates five key elements, which include People with Purpose, Consumer Platforms, Ops Center, Partner Program, and Fuel Our Growth. The Consumer Platforms represents a portfolio of six consumer-driven platforms like Taste Elevation, Easy Meals Made Better as well as Real Food Snacking among others.
