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Evolv Ventures Backed by Kraft Heinz Announces GrubMarket as its First Investment

April 4, 2019
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PITTSBURGH & CHICAGO--(BUSINESS WIRE)--Apr 4, 2019--Evolv Ventures, the $100 million venture fund backed by Kraft Heinz, today announced GrubMarket as its first investment. GrubMarket is a platform that sources local food directly from producers and delivers it directly to businesses and consumers. Terms of the agreement were not released.

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“We’re excited to invest in GrubMarket, a platform that is disrupting the food wholesale market,” said Steve Sanger, General Partner of Evolv Ventures. “GrubMarket plans to grow its presence and product offerings through both geographic and product expansion. Evolv Ventures is pleased to support its innovative founders.”

Since Evolv Ventures announced the formation of the fund in October 2018, the fund has quickly established itself by hiring an experienced team of investors and entrepreneurs and is actively working and investing with leading companies in the space, such as GrubMarket.

ABOUT EVOLV VENTURES

Evolv Ventures Capital Fund is a $100 million venture fund backed by Kraft Heinz that will invest in emerging tech companies transforming the food industry. The venture fund aims to accelerate Kraft Heinz’s exposure to emerging technologies and businesses and leverage Kraft Heinz’s position in the industry to become the most value-added investor in the space. To learn more, visit http://www.evolv.vc  or follow us on  LinkedIn  and  Twitter.

ABOUT THE KRAFT HEINZ COMPANY

For 150 years, Kraft Heinz has produced some of the world’s most beloved products at The Kraft Heinz Company (NASDAQ: KHC). Kraft Heinz’s vision is  To Be the Best Food Company, Growing a Better World. Kraft Heinz is one of the largest global food and beverage companies, with 2018 net sales of approximately $26 billion. Kraft Heinz’s portfolio is a diverse mix of iconic and emerging brands. As the guardians of these brands and the creators of innovative new products, Kraft Heinz is dedicated to the sustainable health of our people and our planet. To learn more, visit http://www.kraftheinzcompany.com/  or follow us on  LinkedIn  and  Twitter.

FORWARD-LOOKING STATEMENTS

This press release contains a number of forward-looking statements. Words such as “plan,” “invest,” “grow,” “support,” “work,” “aim,” “accelerate,” “leverage,” “will,” and variations of such words and similar future or conditional expressions are intended to identify forward-looking statements. Examples of forward-looking statements include, but are not limited to, statements regarding Kraft Heinz’s investment and growth plans and anticipated impacts of the investment. These forward-looking statements are not guarantees of future performance and are subject to a number of risks and uncertainties, many of which are difficult to predict and beyond Kraft Heinz’s control.

Important factors that may affect Kraft Heinz’s business and operations and that may cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, operating in a highly competitive industry; Kraft Heinz’s ability to predict, identify, and interpret changes in consumer preferences and demand, to offer new products to meet those changes, and to respond to competitive innovation; changes in the retail landscape or the loss of key retail customers; changes in relationships with significant customers or suppliers; Kraft Heinz’s ability to maintain, extend, and expand its reputation and brand image; Kraft Heinz’s ability to leverage its brand value to compete against private label products; Kraft Heinz’s ability to drive revenue growth in its key product categories, increase its market share, or add products that are in faster-growing and more profitable categories; product recalls or product liability claims; unanticipated business disruptions; Kraft Heinz’s ability to identify, complete, or realize the benefits from strategic acquisitions, alliances, divestitures, joint ventures, or other investments; Kraft Heinz’s ability to realize the anticipated benefits from prior or future streamlining actions to reduce fixed costs, simplify or improve processes, and improve its competitiveness; the execution of Kraft Heinz’s international strategic initiatives; the impacts of Kraft Heinz’s international operations; economic and political conditions in the United States and in various other nations in which Kraft Heinz does business; changes in Kraft Heinz’s management team or other key personnel and Kraft Heinz’s ability to hire or retain key personnel or a highly skilled and diverse global workforce; risks associated with information technology and systems, including service interruptions, misappropriation of data, or breaches of security; impacts of natural events in the locations in which Kraft Heinz or its customers, suppliers, distributors, or regulators operate; Kraft Heinz’s ownership structure; Kraft Heinz’s indebtedness and ability to pay such indebtedness; an impairment of the carrying value of goodwill or other indefinite-lived intangible assets; exchange rate fluctuations; volatility in commodity, energy, and other input costs; volatility in the market value of all or a portion of the derivatives we use; increased pension, labor and people-related expenses; compliance with laws, regulations, and related interpretations and related legal claims or other regulatory enforcement actions; Kraft Heinz’s ability to protect intellectual property rights; tax law changes or interpretations; the impact of future sales of Kraft Heinz’s common stock in the public markets; Kraft Heinz’s ability to continue to pay a regular dividend and the amounts of any such dividends; volatility of capital markets and other macroeconomic factors; and other factors. For additional information on these and other factors that could affect Kraft Heinz’s forward-looking statements, see Kraft Heinz’s risk factors, as they may be amended from time to time, set forth in its filings with the Securities and Exchange Commission. Kraft Heinz disclaims and does not undertake any obligation to update or revise any forward-looking statement in this press release, except as required by applicable law or regulation.

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CONTACT: Lynne Galia

Lynne.galia@kraftheinz.com

KEYWORD: UNITED STATES NORTH AMERICA ILLINOIS PENNSYLVANIA

INDUSTRY KEYWORD: CONVENIENCE STORE TECHNOLOGY ONLINE RETAIL INTERNET RESTAURANT/BAR RETAIL COMMUNICATIONS MARKETING FOOD/BEVERAGE SUPERMARKET

SOURCE: The Kraft Heinz Company

Copyright Business Wire 2019.

PUB: 04/04/2019 11:56 AM/DISC: 04/04/2019 11:56 AM

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