Mars acquires healthy snacking company KIND North America
US confectionery giant Mars has acquired healthy snacking company KIND North America, which makes granola bars, protein bars, energy bars, breakfast bars, and others.
Although the financial terms of the deal were not disclosed, The New York Times citing anonymous sources, reported that KIND has been valued at around $5 billion.
Mars had acquired a minority stake in KIND about three years ago, helping the latter to expand its KIND Bars range into new regions and categories.
KIND, currently has a presence across 35 plus countries and into eight categories, which includes frozen and refrigerated. Besides, the healthy snacking company has rolled out new products like KIND Bark, KIND Smoothie Bowls, and KIND Frozen Bars.
Mars acquires healthy snacking company Kind North America. Image courtesy of Mars, Incorporated and its Affiliates.
Grant F. Reid – CEO of Mars said: “When we began this partnership, I said it was one built on mutual admiration and a shared vision for growth. After three years, you can see the impact, as together we have grown the healthy snacking category and brought KIND and the KIND Promise to 35 countries and into new categories.
“We’re delighted to continue to build on this success and welcome KIND North America into the Mars Family of Companies.”
Daniel Lubetzky, who is the founder and executive chairman of the healthy snacking company is expected to play an important role in the future development and expansion of the brand, helping to maximize its footprint and impact.
He will also retain an ongoing financial stake in the company.
Daniel Lubetzky said: “I am so proud of how well the Mars and KIND teams have complemented and strengthened each other over the past three years.
“We are now well positioned to further advance our efforts and continue building a foremost health and wellness platform. As we said in 2017, Mars is a company that shares KIND’s passion for business as a force for good, and I am confident that together, we will be able to make our small contribution to make this world a little kinder.”