The terms of the deal, announced Tuesday, have not been released.
In 2017 it acquired a minority stake in Mars. As part of that deal, it took control of Kind International, which helped grow the business outside the United States and Canada. The deal, announced Tuesday, makes Mars the owner of North America.
With the help of Mars’ initial investment, Kind has started selling its products in more than 35 countries and has introduced new products such as frozen nut butter protein bars and healthy, delightful snacks such as dark chocolate bar, the company said in a statement.
“In this Govt environment … interest in food as a drug is still growing louder,” wrote Nicholas Ferde, a senior consumer food analyst at Rabobanks, in his November 2020 report on dietary trends.
Daniel Lupetsky, Kind’s CEO, who founded the company, will maintain a financial stake in Kind and will play a key role in the brand’s “future growth and expansion”, according to a statement.
Keeps Mars private and has a huge portfolio beyond its culinary offerings. The company owns pet food brands such as Pedigree and Viscose and provides health care services for pets through pet hospitals.