December 10, 2023

Mars Wrigley buys $ 5 billion health snack company Kind: Report

Candy maker Mars has just bought Kind North America and makers Kind Bars, Andrew Ross Sorkin and Lauren Hirsch in The New York Times reported for the first time. Neither company has covered the details of the deal, but it has estimated Kind at around $ 5 billion, according to The Times.

Mars is known for its notable production Candy Brands including Snickers, M & Ms, Twix, and more. Kind sells healthy snacks, such as Granola bars and fruit barsAnd claims to avoid artificial flavors, added sugar and preservatives. Business Insider says it uses “nutritious food as the primary and dominant ingredient in every food product.”

Read more: 5 lessons for success from founder of vegetarian snack company Proper, whose retail sales have grown to $ 52 million over a decade

In 2017, Mars bought a minority stake In kind, which then amounted to $ 4 billion. At the time, Kind was one of the fastest growing snack companies, according to New York times. In February 2020, Kind announced that it would spend “tens of millions” marketing a new line of frozen and chilled snacks.

“This is where Mars comes in through its supply chain, logistics, warehouse, and distribution capabilities,” Founder Daniel Lubetsky told Business Insider. He told The Times that the new ownership would allow Kind to consider long-term investments in new products and markets.

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