Mars, a candy giant in the world of candy, will buy Kind North America that focuses on healthy snacks..
Mars, the company behind M&M’s and Snickers, is acquiring the manufacturer of Kind Bars, snack bars that celebrate their lack of artificial flavors and preservatives, company executives told The New York Times in an interview.
The Kind North America deal comes three years after Mars, a private candy giant, acquired a minority stake in the company.. The terms have not been officially announced, but people familiar with the deal said it estimated the Kind’s value at around $ 5 billion.
Kind, founded by Daniel Lubitzky in 2005, sells bars in flavors like cranberry, almond, and dark chocolate and emphasizes clear packaging and simple ingredients. A deal with Starbucks in 2009 helped expand into the crowded snack food market. It also now offers granola, cereals and other products.
The deal is a bet on the durability of the healthy snack food industry, as Mars overtakes its established brands like Twix and Skittles. the master. Lubetzky said the sale would allow Kind to take a longer look and keep looking at new products, geographic expansion, and, potentially, acquisitions..
The master said.
« You don’t need to worry about getting paid in 2021 ». Lubetzky. “We can think of reasonable investments for two, three, five, ten years.
Mr.. Lubetzky said he would remain a participant in the company and keep a stake in the Kind. the master. Lubetzky, a Mexican-American businessman, has made social change an essential part of the company’s mission. Among his charitable endeavors is The Kind Foundation, which earlier this year helped provide frontline workers with commodities like food and skin care products while fighting the pandemic.. .
For Mars, the deal comes as the company plans a future beyond candy. Mars is one of the largest privately held companies in the country, and also owns several pet food brands, including Iams, Pedigree and Royal Canin.. It has also made significant investments in the pet care industry, buying in the past few years the VCA Veterinary Company for $ 7. 7 billion, and AniCura in Europe, a chain of animal clinics and hospitals.
When Mars bought a minority stake in Kind in 2017, valuing the company at $ 4 billion, it was looking to hunt down a popular snack brand offering a healthier alternative to chocolate bars, while Kind gravitated to the March international foothold. Since then, of course, the epidemic has changed the way people market food and eat, and how companies introduce new products. Sales jumped at Kind at first when the pandemic started, Mr.. The house stocked snacks like bars and the company benefited from a strong internet presence, said Lubetzky.
But snacks are under pressure, with little or no activity in corporate cafes, airports and cafes. It is also becoming difficult for food companies to introduce new products because supermarkets restrict shelves to items they know will be popular..
Personal samples, a traditional way of bringing a new product to market, have become a health hazard.
The master said.
« In the year of Covid it is difficult to introduce new elements around the world. ». Lubetzky« The genre is gaining a lot of momentum globally, but it is taking longer than we had hoped.
This background led, in the short term at least, to reverse trends that appeared to threaten powerhouse food brands such as General Mills, Kellogg and Campbell Soup, which saw sales growth during the pandemic.. The largest food companies in the United States have struggled for years to compete against the innovation led by new specialty brands that first infiltrated Whole Foods and then later spilled over into traditional grocery stores like Kroger and Costco..
“I strongly believe disruptive brands have a very long future – less than that in 2020 and 2021,” said Mr.. Lubetzky.
However, Kindle sales have increased from about $ 1 billion at the end of 2017 to around $ 1 USD. 5 billion today, mister. Lubetzky said. It expanded its reach from five countries to 35 countries, including China, Germany and France, and expanded its product range to include frozen items, drawing on Mars technology to create dairy-free frozen process bars..
“When we started this partnership, I said it was built on mutual admiration and a shared vision for growth,” Mars CEO Grant Reed said in a statement. “Three years later, you can see the impact, as together we developed the healthy snacks category.
Kind, Mars, Incorporated, Daniel Lubetzky, Snickers, Snack
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