By Lauren Hirsch.
Mars is investing in Kind, giving the M&Ms-owner a stake in the bar brand made of ingredients “people can see and pronounce.”
Kind, founded in 2004, was one of the first popular snacks to eschew artificial flavors and preservatives. With Mars’ investment, the Snickers-owner gains an entrance into this increasingly popular trend and Kind the resources to expand upon it.
“Our vision is that Kind is going to become the foremost health and wellness platform,” said Daniel Lubetzky, founder and CEO of Kind.
The deal gives Mars the option — though not the requirement — to fully acquire Kind down the road, according to a source familiar with the situation. It values Kind at roughly $3 billion, though potentially as much as $4 billion, depending on how quickly Kind grows.
Read more at CNBC.