Kraft Heinz to purchase Assan Foods for $100M

The acquisition aligns with Kraft Heinz’s international growth strategy focused on taste elevation and foodservice

The Kraft Heinz Company (KHC) has recently announced that it has reached an agreement to purchase Assan Foods from privately held Turkish conglomerate Kibar Holding in a deal that values the enterprise at approximately $100 million.

Assan Foods is a rapidly growing sauces-focused business with local manufacturing facilities in Balikesir and Izmir that has been a certified production partner for Kraft Heinz since 2019 and offers Kraft Heinz the opportunity to build its retail and foodservice business across Europe, the Middle East and Africa.

“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.”

Headquartered in Istanbul, Assan Foods was established in Balikesir in 1998 as a Kibar Holding investment in the food sector and evolved into one of the top producers in the region.