Mars Inc., a leading international confectionery, pet food, and candy manufacturer, has reportedly announced the acquisition of Kind North America, a healthy granola and energy bars manufacturer, as the firm seeks to expand its global footprint.

Kind, which is known for its healthy food products, was founded in 2005 by Daniel Lubetzky, who has been at its helm since the beginning. The company sells bars in various flavors such as Dark Chocolate and Cranberry Almond and highly emphasizes on using simple ingredients and clear packaging.

Kind founder, Daniel Lubetzky stated that the acquisition will allow the company to take a better view and also consider launching new products, acquisitions, as well as geographic expansion.

The Kind North America acquisition would further add upon Mars’ existing partnership with Kind International, which is active across 35 nations. Following the completion of the acquisition and associated processes, Kind will continue to operate as an independent business within Mars worldwide, stated the companies.

Financial details regarding the acquisition were not disclosed by either of the companies. However, according to reliable sources, Mars’ takeover deal valued the health bar maker at approximately $5 billion. The Kind takeover deal comes about three years after Mars bought a minority stake in the healthy snacks maker, as it focused on catering to its customers’ healthy eating habits.

Daniel Lubetzky will be retaining his existing financial stake in Kind even after the completion of Mars acquisition. Over the past couple of years Mars has acquired a number of companies as it focuses on diversifying its business and foray into other industries. The company has invested billions of dollars to acquire pet food companies like Royal Canin, Pedigree, and Iams to expand its portfolio in this sector.

Additionally, the demand for healthy snacks has also increased in the pandemic since consumers have reduced restaurant visits. Meanwhile, the new work from home trend has also compelled them to stock up on their favorite snacks.

Source credit:

https://in.reuters.com/article/us-kind-m-a-mars/mars-to-buy-kind-bars-maker-to-push-into-healthy-snacks-market-idINKBN27X2GS

https://www.nytimes.com/2020/11/17/business/kind-bars-will-be-acquired-by-mars-the-maker-of-snickers.html#:~:text=Mars%2C%20the%20company%20behind%20M%26M's,York%20Times%20in%20an%20interview.