Briefly: Kraft Heinz Purchases Turkey’s Assan

ISTANBUL — The Kraft Heinz Company will purchase Assan Foods from the privately held Turkish company Kibar Holding in a deal that values the enterprise at approximately $100 million. Assan Foods is a sauce-focused business with manufacturing facilities in Balikesir and Izmir that has been a production partner for Kraft Heinz since 2019.

Headquartered in Istanbul, Assan Foods was established in Balikesir in 1998 as a Kibar Holding investment in the food sector and evolved into one of the top producers in the region. Assan Foods manufactures and sells a wide range of products including tomato paste, ketchup, mayonnaise, and pasta and meat sauces that appeal to a variety of international cuisines and are sold under brands such as Colorado, Kingtom, and Oba, as well as private label.

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