Mars, Incorporated strikes $5 billion deal for KIND North America snacks brand
The US-headquartered Mars, Incorporated, group has confirmed acquisition of snacking brand Kind North America, in a major reported $5 billion deal, as the business continues its global expansion in the sector, writes Neill Barston
As part of the deal move, the company, founded on its core focus of high ethical standards, becomes one enterprise, KIND International, to create one organisation operating across 35 countries including the UK, functioning as a distinct and separate business within the Mars portfolio.
The KIND series of products spans a broad range of healthier option snacks bars, with additional protein enhanced options, as well as chocolate-enhanced ranges of dark chocolate ‘bark’ with roasted peanuts, almond and salted caramel varieties.
Founder and Executive Chairman of the brand, Daniel Lubetzky, is set to play a key role in the future development and expansion of KIND, helping to maximise the reach and impact of its mission and products, while upholding its core trading pledges as it expands into new categories and geographies. He will retain an ongoing financial stake in KIND, a majority of which was previously donated to charity to further his philanthropic efforts to build bridges across lines of divide.
Over the past three years, Mars and KIND have partnered to bring KIND (including signature KIND Bars) into new geographies and categories, remaining true to the KIND Promise that the first and predominant ingredient in all of its snacks and foods is a nutrient-dense food.
As a result of the partnership, KIND has expanded into more than 35 countries (including China, Germany and France) and into eight total categories (including frozen and refrigerated), and has launched new products such as KIND Bark, KIND Frozen Bars and KIND Smoothie Bowls.
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.”
“I am so proud of how well the Mars and KIND teams have complemented and strengthened each other over the past three years,” Lubetzky said. “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.”