WORLD NEWS – US – M&M Maker Mars agrees to purchase the Kind Snack Bars owner

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Mars Inc. Candy maker M&M and Ben’s Original Rice have agreed to acquire snack maker Kind North America.

Mars said in a statement on Tuesday that Kind would become « a distinct and separate company within the Mars family of companies ». The companies have already partnered in an effort to expand Kind products into international markets.

Founder and CEO Daniel Lubitzky will continue to be involved in the brand and will maintain a financial stake.. The companies have not released the financial terms.

The New York Times, which earlier reported on the deal, said March placed a $ 5 billion valuation on the Kind, citing unknown people with knowledge of the terms..

Mars leaves ripen in April 2039 as number 3. 95% coupon performed consistently better than multi-month Treasuries, as part of a broad rally in corporate bonds. Banknotes trade at returns of up to 2. 5 percentage points above Treasury notes in March, but is now closer to 1. 2 percentage points more, according to Trace bond trading data.

The companies have worked together over the past three years to bring the Kind brand to more than 35 countries and develop new products such as juice bowls and frozen bars..

Kind, founded in 2004, has captured market share in the snack category by marketing itself as healthier and promoting simple ingredients without the artificial sweeteners. Consumers have been attracted to packaged foods that are marketed as natural and without additives in recent years.

The brand will add another category to its Mars line of products, ranging from Dove chocolate to Whiskas cat food..

Kind, Mars, Incorporated, Daniel Lubetzky, North America, Snickers, Snack

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Ref: https://www.bloomberg.com

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