Kind North America to be acquired by Mars
MCLEAN, Virginia — An deal has been reached for Kind North America to be acquired by Mars, Inc. The firms did not disclose the terms of the arrangement, although a New York Times story suggested that it would be worth roughly $5 billion.
As per the deal, Kind International and Kind North America will merge to become a single firm with operations in 35 nations. Kind North America has stated that the newly merged company will function as a distinct entity within the Mars group of companies.In late 2017, Kind LLC saw a minority investment from Mars. As per that arrangement, Mars took the lead in expanding Kind’s operations outside of the US and Canada.
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Grant F. Reid, the CEO of Mars, stated, “When we started this partnership, I said it was one built on mutual admiration and a shared vision for growth.” “Three years later, the effect is evident as we have expanded the healthy snacking market, introduced Kind and the Kind promise to 35 countries, and expanded into new categories. It gives us great pleasure to welcome Kind North America into the Mars family of companies and to further building on this success.Kind’s founder and executive chairman, Daniel Lubetzky, will continue to work for the company and contribute to its growth in the future, the firms said.
Mr. Lubetzky stated, “We are now in a great position to further advance our efforts and continue building a foremost health and wellness platform.” “As we stated in 2017, Kind and Mars are a company that values business as a force for good, and I am optimistic that we can work together to make a small difference in the world.”