Mars Acquires Kevin’s Natural Foods
Mars has entered an agreement to purchase Kevin’s Natural Foods – a ready-to-eat food maker specializing in clean eating, Paleo options and healthy sauces.
The financial terms of the deal were not disclosed, but the acquisition is expected to close in the third quarter of 2023. Under the terms of the agreement, Kevin’s will act as a standalone brand under Mars’ food & nutrition unit, reporting to its president, Shaid Shah.
Founded in 2019, Kevin’s has experienced rapid growth over the last four years and is now sold at 17,000 retail locations across the U.S., with products also available in Canada, Mexico, and the UK.
For Mars’ part, the decision aligns with the company’s long-term vision to build a suite of “better for you” food brands. The company counts other healthy meal and product providers Seeds of Change and Foodspring in its portfolio, and Shaid Shah described Kevin’s Natural Foods as “a business whose mission fits squarely with our purpose.”
“We look forward to drawing on our experience of nurturing and scaling founder-led brands to help bring their products to even more people,” Shah added.
The food and beverage sector has seen a number of acquisitions and signs of positive movement from some of the industry’s biggest players. Most recently, Unilever announced its acquisition of the frozen yogurt brand Yasso, while back in November, Nestle purchased Seattle’s Best Coffee from Starbucks.
Written by Maia Jenkins