Kraft Heinz announced (KHC) that it has entered into a definitive agreement to acquire Primal Nutrition, makers of Primal Kitchen branded products, for approximately $200M. The brand holds leading positions in both e-commerce and natural channels, and is expected to generate approximately $50M in net sales this year, Kraft Heinz stated.

"The proposed partnership with Primal Kitchen is consistent with Kraft Heinz's vision to be the best food company, growing a better world. The Primal Kitchen team has built an amazing portfolio of the world's best-tasting, health-enhancing, real-food pantry staples," said Paulo Basilio, U.S. Zone President for Kraft Heinz.

The transaction is subject to customary closing conditions and is expected to be completed in early 2019. Further terms of the agreement were not disclosed.