The Kraft Heinz Company (NasdaqGS:KHC) agreed to acquire 85% of stake in Just Spices GmbH on December 10, 2021. The remaining 15% ownership stake will be retained by Just Spices' three founders, who will continue on with the company. Just Spices GmbH annual sales of approximately €60 million.

The deal is subject to customary closing conditions, including merger control approval, and is expected to be completed in the first quarter of 2022. Jan Bauer of Skadden acted as legal advisor to The Kraft Heinz Company. OMMAX acted as due diligence advisor to Just Spices in the transaction.

Oliver Felsenstein and Heiko Gotsche of Latham & Watkins LLP acted as legal advisor to Just Spices GmbH. Ernst & Young Global Limited acted as due diligence provider of Just Spices GmbH.