- Candy giant Mars is buying snacking leader company KIND in a deal reportedly valued at $5 billion. These are the details.
Candy giant Mars is buying snacking leader company KIND in a deal reportedly valued at $5 billion, according to The New York Times. KIND North America will join KIND International for creating one organization that operates across 35 countries, functioning as a distinct and separate business within the Mars Family of Companies. This deal provides the opportunity to further the KIND Promise, which is a set of nutrition principles that have been guiding the company’s innovation since its founding and KIND’s mission to create a kinder world.
KIND Founder and Executive Chairman Daniel Lubetzky is going to play a key role in the future development and expansion of KIND, thus helping to maximize the reach and impact of the KIND mission and products while upholding the KIND Promise as the brand expands into new categories and geographies. And he will retain an ongoing financial stake in KIND, which is a majority of which was previously donated to charity to further his philanthropic efforts to build bridges across lines of divide.
In the past 3 years, Mars and KIND have partnered to bring KIND (including signature KIND Bars) into new geographies and categories, which remains true to the KIND Promise that the first and predominant ingredient in all of its snacks and foods is a nutrient-dense food. And as a result of the partnership, KIND has expanded into more than 35 countries (including China, Germany and France) and into eight total categories (including frozen and refrigerated). And it has launched new products like KIND Bark, KIND Frozen Bars and KIND Smoothie Bowls.
KIND is remaining committed to its promise and mission and will further its purpose to build a kinder world one snack and one act at a time by committing to:
– Kinder to our bodies — KIND will provide over 2 billion servings of nutrient dense foods to people’s diets by 2025
– Kinder to our planet — KIND will exclusively source 100% of its almonds from bee-friendly farms by 2025
– Kinder to our communities — KIND will continue to break down barriers to create more inclusive and empathetic communities
KEY QUOTES:
“When we began this partnership, I said it was one built on mutual admiration and a shared vision for growth. After three years, you can see the impact, as together we have grown the healthy snacking category and brought KIND and the KIND Promise to 35 countries and into new categories. We’re delighted to continue to build on this success and welcome KIND North America into the Mars Family of Companies.”
— Grant F. Reid, CEO of Mars
“I am so proud of how well the Mars and KIND teams have complemented and strengthened each other over the past three years. We are now well positioned to further advance our efforts and continue building a foremost health and wellness platform. As we said in 2017, Mars is a company that shares KIND’s passion for business as a force for good, and I am confident that together, we will be able to make our small contribution to make this world a little kinder.”
— Daniel Lubetzky
