M&A Deal Summary

The Kraft Heinz Acquires Assan Foods

On June 11, 2021, The Kraft Heinz acquired food company Assan Foods from Kibar for 100M USD

Acquisition Highlights
  • This is The Kraft Heinz’s 1st transaction in the Food sector.
  • This is The Kraft Heinz’s largest (disclosed) transaction.
  • This is The Kraft Heinz’s 1st transaction in Turkey.

M&A Deal Summary
Date 2021-06-11
Target Assan Foods
Sector Food
Buyer(s) The Kraft Heinz
Sellers(s) Kibar
Deal Type Divestiture
Deal Value 100M USD

Target

Assan Foods

34337, Turkey
Assan Foods is a producer of tomato paste, ketchup, mayonnaise and various tomato sauces for world cuisines to over 30 countries on 4 continents. Assan Foods was founded in 1998 and is based in Istanbul, Turkey.

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Buyer(S) 1

Buyer

The Kraft Heinz

Northfield, Illinois, United States
Category Company
Sector Food
Employees22,500
Revenue 18.2B USD (2013)
DESCRIPTION

The Kraft Heinz Co. is a food and beverage conglomerate with a portfolio of brands spanning beverages, cheese, refrigerated meals and other categories. Kraft Foods Group was formed in 2012 as a spin-off from Mondelez International. The Company is based in Northfield, Illinois.

DEAL STATS #
Overall 1 of 3
Sector (Food) 1 of 3
Type (Divestiture) 1 of 1
Country (Turkey) 1 of 1
Year (2021) 1 of 3
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-15 Kraft Heinz’s Natural Cheese Division

Tulare, California, United States

Kraft Heinz’s Natural Cheese Division comprises natural, grated, cultured, and specialty cheese businesses in the U.S., Grated cheese business in Canada, and the entire International Cheese business outside North America. It includes three world-class Kraft Heinz production facilities located in Tulare, CA, Walton, NY, and Wausau, WI, and a distribution center in Weyauwega, WI.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-23 Hemmer

Blumenau, Brazil

Hemmer is a producer and seller of several types of picked and preserved food, condiments, olive oil, and beverages. The company’s longevity, unusual for the Brazilian landscape, and solidity are a consequence of the quality of the products offered to consumers and the commitment and dedication put into the work. Hemmer was formed in 1915 and is based in Blumenau, Brazil.

Buy -

Seller(S) 1

SELLER

Kibar

İstanbul, Turkey
Category Company
Founded 1984
Sector Diversified
DESCRIPTION

Kibar is a Turkish conglomerate operating in the metal, automotive, packaging, building materials, real estate, logistics, energy, food, and service sectors with more than 20 companies. Kibar was founded in 1984 and is based in ?stanbul, Turkey.

DEAL STATS #
Overall 1 of 1
Sector (Food) 1 of 1
Type (Divestiture) 1 of 1
Country (Turkey) 1 of 1
Year (2021) 1 of 1
Size (of disclosed) 1 of 1
Mergr

Product

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