Kraft Heinz announced it has agreed to buy Turkish sauce company Assan Foods from Kibar Holding in a deal for around USD 100 million.
Assan Foods, manufacturing a varied range of sauce products including ketchup, mayonnaise, pasta sauces, and more at its plants in Izmir and Balıkesir, has been a Kraft Heinz certified production partner since 2019.
“This is a great opportunity to speed up our international growth strategy. 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," President of Kraft Heinz International Zone Rafael Oliveira said.
Headquartered in Istanbul, Assan Foods employs approximately 400 workers and exports its products to around 50 countries.