Mars to expand food and nutrition segment with Kevin’s Natural Foods acquisition
Confectionery giant Mars, Incorporated, has announced plans to acquire Kevin’s Natural Foods, a high-growth nutritious meal company, for an undisclosed price.
The sous-vide meal producer, known for its chef-inspired meals, sides, and sauces, is set to join Mars’ leading brands in the Mars Food & Nutrition segment.
With a focus on whole foods and simple ingredients, Kevin’s Natural Foods meets the demands of busy consumers seeking healthier meals that can be prepared within minutes, without compromising on taste. Since its establishment in 2019, Kevin’s has consistently seen double-digit growth and is now available in over 17,000 retail locations, including grocery stores, supermarkets, and digital commerce platforms.
Kevin’s Natural Foods will continue to operate as a standalone business under Mars Food & Nutrition, reporting to its President, Shaid Shah.
Shaid Shah said: “We are excited to welcome Kevin’s Natural Foods to the Mars Food & Nutrition family of businesses. We have been hugely inspired by Kevin’s, a business whose mission fits squarely with our purpose: Better Food Today. A Better World Tomorrow.
“Kevin’s products are of a very high quality, nutritious, and convenient, without compromising on flavor, and are enjoyed by an engaged and loyal customer base across North America. The Kevin’s Natural Foods team has delivered impressive growth since it was founded four years ago, and we look forward to drawing on our experience of nurturing and scaling founder-led brands to help bring their products to even more people.”
Mars to acquire nutritious meal company Kevin’s Natural Foods. Photo courtesy of Mars, Incorporated and its Affiliates.
The acquisition plays a crucial role in Mars Food & Nutrition’s ongoing strategy to facilitate healthier eating for consumers. Kevin’s Natural Foods’ product range will complement Mars Food & Nutrition’s core portfolio and recent product innovations.
Co-founded by Dan Costa, Kelsie Costa-Olson, and Kevin McCray, Kevin’s Natural Foods was inspired by Kevin’s personal pursuit of healthier eating habits. The company, based in Modesto, California, currently employs around 180 staff and sells products in the U.S., U.K., Canada, and Mexico. The purchase agreement includes an exit for Kevin’s minority partners, TowerBrook Capital Partners L.P., and NewRoad Capital Partners.
The healthy entrées, sides, and sauces produced by Kevin’s Natural Foods aim to make clean eating delicious and effortless. Founded by Kevin McCray, who discovered the benefits of a paleo-friendly diet while managing a severe auto-immune disorder, the company’s sous-vide entrées and signature Paleo, Keto, and Gluten-Free certified sauces are available online and on the shelves of renowned grocery retailers.
Kevin McCray — Kevin’s Natural Foods President and Co-Founder said: “Mars Food & Nutrition shares our vision and passion for the role food plays in people’s lives. We founded Kevin’s with the mission to empower even the busiest people to eat nutritious, great tasting meals in minutes.
“Joining the Mars Food & Nutrition portfolio of brands will allow us to accelerate the development of more product innovations and support our mission of bringing Kevin’s to more consumers across markets.”
The acquisition is subject to customary regulatory approvals and is expected to close in the third quarter of 2023.