Kraft Heinz buys Turkish Assan Foods in $100M deal

  • The Kraft Heinz Company (KHC +0.4%) to purchase Assan Foods from privately held Turkish conglomerate Kibar Holding in a deal that values the enterprise at ~$100M.
  • With approximately 400 employees, Assan Foods is a rapidly growing sauces-focused business, serving the domestic market and exports to around 50 countries on four continents.
  • 'This is a great opportunity to accelerate our international growth strategy centered on Taste Elevation," said Rafael Oliveira, International Zone President at Kraft Heinz . '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."
  • The deal is expected to be completed in the second half of 2021.

    For this year the company, located in Pittsburgh revenue will be around 25.3 billion USD. This is according to the average of the analysts' estimates. This is slightly lower than 2020's revenue of 26.19 billion USD.

    Historical revenues and results Kraft Heinz plus estimates 2020


    The analysts expect for 2021 a net profit of 3.32 billion USD. The majority of the analysts expects for this year a profit per share of 2.66 USD. The price/earnings-ratio is then 15.54.

    Huge dividend Kraft Heinz

    Per share the analysts expect a dividend of 1.61 USD per share. The dividend yield is then 3.9 percent. The average dividend yield of the food producers is an attractive 2.26 percent.

    Based on the current number of outstanding shares Kraft Heinz 's market capitalization is 50.46 billion USD. The Kraft Heinz stock was the past 12 months quite unstable. Since last June the stock is even 30 percent higher. This year the stock price moved between 29 and 45 dollar.

    Historical stock prices Kraft Heinz past 10 years

    historical stocks kraftheinz

    On Thursday, the stock closed at 41.33 USD. Nieuwsdienst: +31 084-0032-842

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