Mars Acquires Better-for-You Snacking Brand
Mars Inc. continues to expand its portfolio with latest acquisition. The global manufacturer of confectionery, snacking, food and pet care products and services has signed an agreement to acquire Trü Frü, a high-growth, better-for-you, whole-fruit snacking brand, from its founders and management team.
Trü Frü was founded in 2017 by CEO Brian Neville, President Taz Murray and COO Brandon O’Brien. Its unique snacks are made from real fruit and immersed in premium chocolate. The snacks are available in both a frozen and shelf-stable format across the United States. Trü Frü's strong consumer appeal has helped increase its total sales more than fivefold since 2017. The West Valley City, Utah-based company currently has approximately 50 employees.
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Trü Frü is complementary to Mars’ platform of fast-growing health-and-wellness brands, which includes Kind, a nut-based snacking leader, and Nature’s Bakery, a maker of fruit-based wholesome snacks. With the addition of Trü Frü, Mars will be able to meet a growing range of dietary and taste preferences. Additionally, like Kind and Nature’s Bakery, Trü Frü will operate as a separate business within Mars to maintain the authenticity of its brand and culture.
“We are delighted to be joining the Mars family of brands,” noted Neville, who will continue to lead the brand. “Over the years, we have observed Mars’ success in building a global better-for-you snacking platform with both Kind and Nature’s Bakery. From the first moment we met the Mars team, we realized they were the right long-term partner for the company we had founded and invested so much of our time and energy in. They share our passion for healthier snacking, respect and admire the values that have made us successful, and have the capabilities we need to take our company to the next level.”
“We are thrilled to welcome one of the most innovative fruit-based snacks in the U.S. into the Mars family of brands,” said Andrew Clarke, global president of Mars Snacking. “Trü Frü is a perfect complementary fit for our health-and-wellness portfolio, and our capabilities will help the brand strengthen its operations, broaden distribution and accelerate growth. We want to be the preferred home for emerging and founder-led brands like Trü Frü. We are looking forward to working with the founders and the whole Trü Frü team to help them continue their long-term growth journey and bring the brand to even more people.”
The transaction is subject to customary regulatory approvals and expected to close in the first quarter of 2023. The terms of the transaction were not disclosed.
With almost $45 billion in annual sales, family-owned Mars Inc. produces well-known global brands such as Ben’s Original, Cesar, Cocoavia, Dove, Extra, Kind, M&M’s, Snickers, Pedigree, Royal Canin and Whiskas. The McLean, Va.-based company employs more than 140,000 associates.
