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The Kraft Heinz Company, the owner of the Heinz and Quero brands in Brazil, has completed its acquisition of a majority stake in Companhia Hemmer Indústria e Comércio, a Brazilian food company focused on condiments and sauces, after the deal was approved without restriction by CADE (Brazil’s Administrative Council for Economic Defense), Brazil’s antitrust body.
The deal was first announced in September 2021, and CADE was notified in November 2021.
The association with Hemmer, a 107-year-old company based in Blumenau, Santa Catarina, will expand Kraft Heinz’s International Taste Elevation platform with its focus on condiments and sauces and will also support its strategy to increase its presence in emerging markets.
The acquisition aims to accelerate the growth of both companies, whose brands and portfolios are complementary. Hemmer will also benefit from Kraft Heinz’s distribution network and go-to-market model in Brazil, including in the growing foodservice channel.
“This is an important move for our International growth strategy, which is focused on Taste Elevation, our portfolio of high-quality, delicious products that enhance the taste of food,” says Rafael Oliveira, EVP & President, International Markets at Kraft Heinz.
“We are very excited about the completion of the deal, which furthers Kraft Heinz’s plan to become one of the largest food players in the country, expanding our selection for our consumers,” said Fernando Rosa, Managing Director of Brazil at Kraft Heinz. “This combination represents a tremendous growth opportunity for both companies, which are both built on the pillars of tradition, innovation, quality, superior ingredients, and flavor.”
© 2022 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.