Mars had a minority stake in Kind since 2017.
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This article has been translated from our English edition.
This story originally appeared on Business Insider
The candy maker Mars just bought Kind North AmericaFriendly bar makers first reported on the news to reporters Andrew Ross Sorkin and Lauren Hirsch New York Times. Neither company has gone into the specifics of the deal, but loudly The timesChild was valued at around $ 5 billion.
Mars is known for making famous confectionery brands like Snickers, M M’s, Twix and others. Kind sells healthier snacks like granola bars and fruit bars and claims to avoid artificial flavors, added sugars, and preservatives. It is said to use “nutritious foods as the first and predominant ingredient in every food product,” Business Insider reported earlier this year.
In 2017, Mars bought a minority stake in Kind, which was later valued at $ 4 billion. At the time, Kind was one of the fastest growing snack companies according to data The New York Times. In February 2020, Kind announced that it would be spending “tens of millions” on marketing a new line of frozen and chilled snacks.
Mars is known for making well-known confectionery brands like Snickers, M M’s, Twix, and others / Image: Depositphotos.com
“This is where Mars comes in with its supply chain, logistics, warehousing and distribution capacity,” he said Business Insider the founder Daniel Lubetzky. Told The times that the new property will enable children to think about longer term investments in new products and markets.