17 Nov Kind bars will be acquired by Mars, the maker of Snickers.
Mars, the company behind M&M’s and Snickers, is acquiring the company that makes Kind bars, the snacks that celebrate their lack of artificial flavors and preservatives, company executives told The New York Times in an interview.
The deal for Kind North America comes three years after Mars, a privately held giant in the candy industry, took a minority stake in the company. The purchase was confirmed by company executives. Terms were not formally announced, but people with knowledge of the deal said it valued Kind at about $5 billion.
Kind, which was founded by Daniel Lubetzky in 2005, sells bars in flavors like Cranberry Almond and Dark Chocolate and emphasizes clear packaging and simple ingredients.
The deal is a bet on the durability of the healthy snacking industry, as Mars looks beyond its long-established brands like Twix and Skittles. Mr. Lubetzky said it would allow Kind to take a longer view and continue to consider new products, geographic expansion and, likely, acquisitions.