Just Spices acquired by Kraft Heinz
We are thrilled to announce that our portfolio company Just Spices has been acquired by Kraft Heinz.
We first met Just Spices’ team in 2019 and over the past 2 years, we have been so excited to watch the company grow and develop into one of the most recognised food brands in Germany. The company tripled in size over the past 2 years, improving on all metrics.
In total, we invested 7.5% of first Fund in Just Spices. This exit will return a large proportion of the fund total size, within 25 months since our first investment in the Series B round.
Just Spices was founded in Dusseldorf by Florian Falk, Ole Strohschnieder and Bela Seebach in 2014, inspired by a culinary trip around the world, with a mission to ‘make delicious food even more delicious, getting as many people as possible to cook healthy food with joy and pride’.
Just Spices inspires a growing tribe of followers to refine their own dishes and become creative in the kitchen. It boasts more than 1.6 million followers on its social media channels. On TikTok alone, Just Spices regularly achieves several million views on its content.
Just Spices will continue operating as a standalone operation under Kraft Heinz by the founders and its employees.
We will surely miss our spicy Board meetings and our weekly touchpoints. We are grateful to have been part of the Just Spices journey, where we learned a tremendous amount on direct-to-consumer metrics, the smart use of social media for brand building and sales, speedy launch of new SKUs, and the use of retail for a true omnichannel strategy.
We congratulate the company on this major milestone!
Read More on why we invested in Just Spices here