The terms of the deal, which was announced on Tuesday, have not been disclosed.
Bought a minority stake in Kind on Tuesday 2017. As part of that deal, it helped grow the business outside the United States and Canada, gaining control of Kind International. The deal, announced Tuesday, will make Mars the owner of Kind North America.
With the help of early investments from Mars, Kinde has started selling its products in more than 35 countries and launched new items like healthy, savory snacks like refrigerated nut butter protein bars and dark chocolate peel, the companies said in a press release.
“In this cowardly environment … interest in food as medicine grows louder,” wrote Nicholas Faraday, in a November report on 2020 food trends, written by Nicholas Faraday, a senior consumer food analyst at Rabobank.
Daniel Lubetzki, Kind’s executive chairman, who founded the company, will maintain an economic stake in Kind and play a key role in the brand’s “future growth and expansion,” the company said in a statement.
Mars is privately held and has a large outside portfolio of food offerings. The company owns pet food brands such as Pedigree and Whiskas and provides healthcare for pets through hospitals for pets.
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