Mars Buys Stake in Kind
Mars, the privately held company that owns brands like M&M’s and Snickers, has purchased a minority stake in Kind. Based on Mars’ previous investments, this move could lead to the company buying all of Kind in the future.
The deal values Kind at more than $4 billion, according to industry insiders. Kind is one of the fastest-growing companies in the better-for-you snack category, with sales in 2017 of $718.9 million, according to Euromonitor. It follows only General Mill’s Nature Valley and Clif Bar in worldwide market share.
Mars hope to make Kind into a global health food brand and will operate the snack bar’s international operations, making use of its worldwide distribution network. The companies also plan to use Kind to introduce new health food products in various categories.
“Job No. 1 is taking it global. Job No. 2 is what other categories either are we already in or we can easily get into that meet the Kind promise?” Grant F. Reid, Mars’s chief executive, said in an interview, according to a New York Times report.