Mars, Inc. has purchased a minority stake in Kind L.L.C., the New York-based maker of nutrition bars. Financial terms were not disclosed.
Founded in 2004, Kind offers a range of snacks made with simple ingredients, including whole nuts, seeds, whole grains and fruit. Mars, the maker of M&M’s candies and Uncle Ben’s rice, said it will help bring Kind into new geographic markets and expand into additional product categories.
“This is a partnership built on mutual admiration and a shared vision for growth,” said Grant F. Reid, chief executive officer and president of Mars. “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 will continue to operate independently in New York, led by majority stakeholders, founder and c.e.o. Daniel Lubetzky and the management team. Mars will lead growth of the business outside of the United States and Canada.
“When we introduced our first whole nut and fruit bar in 2004, we set out on an ambitious mission to do things differently and challenge false compromises by offering snacks that were healthy and tasty as well as wholesome and convenient,” Mr. Lubetzky said.
“It’s been exciting to see the reach and impact of our mission, and with our partnership with Mars, we’re looking forward to continuing on this journey as we empower more people to make healthy eating decisions across the globe. We remain fully committed to our guiding principles, including our commitment to always use a nutritious food as the first and predominant ingredient in every food product.
“We’re proud to partner with Mars, a family-owned, principles-driven company with a proven track record of holding a long-term view, and look forward to working with them to make this a better world for future generations.”