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Global food giant Mars has purchased a minority stake in New York, USA based snacks manufacturer Kind.
Announcing the move in a statement, the two firms said that Kind would continue to be operated independently in New York by its majority shareholders, founder and CEO Daniel Lubetzky and its management team, whilst Mars would support the company to expand outside of the USA and Canada.
Grant F Reid, chief executive officer and president of Mars, said: “We believe there is tremendous opportunity to build on the success of Kind’s product portfolio in new markets. As we continue to expand our business and broaden our portfolio to address evolving consumer needs, we’re delighted to partner with a respected leader in the health and wellness space”.
Kind offers a range of health-oriented snacks described as being made with nutrient-dense, simple and premium ingredients such as whole nuts, seeds, whole grains and fruit.
The value of the deal was not disclosed.
Source Mars (via PR Newswire)
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