Kind has entered into an agreement to buy snack bar brand Nature’s Bakery less than a month after Mars announced its acquisition of Kind North America.
Founded in 2011, Nature’s Bakery offers a range of plant-based and nut-free snack bars.
The brand’s portfolio, which includes fig bars, brownie bars and other soft-baked options, is said to provide a differentiated and complementary offering to Kind’s existing range.
The acquisition aligns with Kind’s aim to create a ‘foremost health and wellness platform’ that will function as a distinct and separate business within the Mars portfolio.
“If you look at pantries across the country, odds are you will find Kind and Nature’s Bakery products sitting side by side,” said Daniel Lubetzky, founder and executive chairman of Kind.
“Both brands have created loyal followings by being true to their unique value propositions. It comes as no surprise that, along with Kind, they remain one of the growth leaders within the snack bar category. We are excited to welcome them to the Kind family and support the team’s next chapter as part of our growing health and wellness platform.”
Chris Lansing will continue as CEO of Nature’s Bakery under the company’s new ownership, reporting to Juan Martin, global president for Kind.
“We know consumers love our soft-baked snacks, and this is a unique opportunity to introduce even more families to our full portfolio of snacks, baked with the nourishing ingredients and delicious recipes we have always been known for,” said Lansing.
The financial terms of the deal have not been disclosed. The transaction is subject to regulatory approvals and customary closing conditions.
© FoodBev Media Ltd 2020