Snickers parent to buy Kind Bars for $5BNovember 17, 2020
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Mars announced that it is acquiring Kind North America, the maker of Kind bars, in an effort to expand the partnership that started three years ago.
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Mars, which makes Snickers, Milky Way bars, M&M's and other candy bars, is acquiring the company for approximately $5 billion, according to the New York Times, which first reported the news.
“When we began this partnership, I said it was one built on mutual admiration and a shared vision for growth," Grant F. Reid, CEO of Mars, said in a statement. "After three years, you can see the impact, as together we have grown the healthy snacking category and brought KIND and the KIND Promise to 35 countries and into new categories. We’re delighted to continue to build on this success and welcome KIND North America into the Mars Family of Companies.”
The deal comes just a few weeks after Halloween, traditionally one of the busiest times for Mars and other candy makers.
According to data from market research firm IRI and the National Confectioners Association, Halloween candy sales rose 13% for the month ending Sept. 6, the Associated Press reported.