Kraft Heinz has purchased Assan Foods from privately held Turkish conglomerate Kibar Holding for $100 million. The acquisition of the branded and private brand producer aims to grow Kraft’s retail and foodservice markets across Europe, the Middle East and Africa.
Assan Foods is a growing sauces-focused company, headquartered in Instanbul. The company produces items such as tomato paste, ketchup, mayonnaise, meat sauces and pasta under the brands Colorado, Kingtom and Oba, as well as for private label. Assan Foods has 400 employees and serves the domestic market and exports to around 50 countries.
“This is a great opportunity to accelerate our international growth strategy centered on Taste Elevation,” said Rafael Oliveira, international zone president at Kraft Heinz. “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."