MARS TAKES MINORITY STAKE IN KIND

1st December 2017
CSNews

NEW YORK and MCLEAN, Va. — Mars Inc. and KIND have entered a strategic partnership with Mars will take a minority stake in KIND.

As part of the agreement, the two companies will partner to grow KIND’s product offerings and business globally. The partnership will also allow KIND to continue to drive positive change in the food industry while fulfilling — on a worldwide scale — its KIND Promise, a set of nutrition principles that have guided the company’s innovation since its founding.

In turn, KIND will provide Mars with a pioneering and trusted brand to anchor a newly formed global health and wellness platform, while Mars will provide KIND with its proven international model to expand into new markets, the companies stated.

KIND will continue to operate independently, led by its majority stakeholders, founder Daniel Lubetzky and the KIND team, with its existing headquarters in New York. As part of the agreement, Mars will lead the growth of the business outside the United States and Canada, partnering with KIND in accordance with the KIND Promise.

“This is a partnership built on mutual admiration and a shared vision for growth,” said Grant F. Reid, president and CEO 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.”

The partnership will also enable KIND to expand into new categories.

“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. 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,” Lubetzky said.

“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,” he added. “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.”

As KIND continues to expand, it will fulfill its KIND Promise by:

• Always using a nutritious food as the first and predominant ingredient in every food product;
• Never using artificial sweeteners or sugar alcohols;
• Using as little sugar as possible while achieving great taste;
• Creating foods that are both healthy and tasty;
• Being transparent about everything from ingredients to labeling;
• Crafting foods made with minimally processed, real ingredients; and
• Treating its foods and people with integrity.

BDT & Co. and Centerview Partners served as KIND’s financial advisors, and Goodwin Procter LLP acted as KIND’s legal advisor. Morgan Stanley & Co. LLC served as Mars’ financial advisor, and Simpson Thacher & Bartlett LLP acted as Mars’ legal advisor.

Based in McLean, Mars is a family-owned business with $35 billion in sales. The company brands include M&M’S, Snickers, Twix, Milky Way, and Dove.