KIND, a healthy snack brand, has recently inked an agreement to acquire a wholesome and delicious snack producer, Nature’s Bakery. The takeover deal will help extend the portfolio of the businesses of Mars in the health and wellness space as well as build on Mars and KIND’s shared vision to make wholesome snacking choices readily available to consumers worldwide.
Nature's Bakery, which was founded in 2011, has a key focus on delivering better-for-you snacks. The company prioritizes on simple, real, and wholesome ingredients such as hearty whole grains and sun-ripened fruit to develop snacks that are nut-free, plant-based, dairy-free, & 100% Non-GMO Project Verified. Following the deal, the company’s nut-free and soft-baked favorites will become complementary and differentiated offerings to the existing portfolio of KIND.
Additionally, the unique offerings of these two brands will satisfy a range of nutritional needs, taste preferences, and dietary restrictions. The transaction will advance the commitment of KIND in forming a separate health & wellness platform within Mars.
According to KIND’s Executive Chairman & Founder, Daniel Lubetzky, Nature's Bakery and the company’s brands have created loyal followings owing to their unique value propositions. The company is excited to welcome the team at Nature's Bakery and support in the next chapter of the growth of its health and wellness platform.
Nature's Bakery’s CEO, Chris Lansing, has reportedly cited that the latest deal will provide an opportunity for the company to introduce a full portfolio of snacks made from delicious recipes and nourishing ingredients to the consumers.
After the agreement, Chris Lansing will continue to serve as Nature's Bakery’s CEO, reporting to the Global President for KIND, Juan Martin. Additional terms of the deal have not been disclosed. In addition, the agreement is subject to several regulatory approvals & customary closing conditions.
BofA Securities served as the financial advisor to KIND, while Goodwin Procter LLP acted as the legal advisor. On the other hand, William Blair & Company served as the financial advisor and Cooley LLP as the legal advisor to Nature's Bakery.