M&Ms-owner Mars is going to be taking a stake in the Kind bar brand.
Founded in 2004, Kind was one of the very first popular snacks to avoid using artificial flavors and preservatives. It sells in 14 countries through distributors.
According to a source familiar with the matter, as part of the deal, Mars is given the option to acquire Kind down the road in full if it sees fit.
The source values Kind at about $3 billion with that value to be as much as $4 billion depending on how fast the brand continues to grow.
Kind CEO Daniel Lubetzky commented, “Our vision is that Kind is going to become the foremost health and wellness platform.”
With Mars’ investment, the company will be able to double down on the countries it already sells in as well as expand in others.
Lubetzky commented, “Going to those countries now, ahead of the potential rising trend, prevents Kind from appearing like a “me too” player.”
“If somebody borrows our playbook and goes there first, we might be perceived by consumers as a copycat… We want to go there faster.”