Mars has signed an agreement to acquire Kevin’s Natural Foods, a high-growth, nutritious meal company. Kevin’s Natural Foods, which is valued at nearly $800 million, will operate as a standalone business within Mars Food & Nutrition segment.
Subject to customary regulatory approvals, the deal is expected to close in the third quarter of this year. No further terms of the transaction have been disclosed.
Kevin’s Natural Foods is expected to play a key role in Mars Food & Nutrition’s ability to make healthier eating a part of consumers’ daily lives. The company’s products will complement Mars Food & Nutrition’s core portfolio and recent product innovations.
Kevin’s makes sous-vide meals, sides, and sauces, using whole foods and simple ingredients. It has registered double-digit growth since it was founded in 2019, and its products are now available across 17,000+ retail locations.
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“We are excited to welcome Kevin’s Natural Foods to the Mars Food & Nutrition family of businesses,” says Shaid Shah, global president, Mars Food & Nutrition. “We have been hugely inspired by Kevin’s, a business whose mission fits squarely with our purpose: Better Food Today. A Better World Tomorrow. Kevin’s products are of a very high quality, nutritious, and convenient, without compromising on flavor, and are enjoyed by an engaged and loyal customer base across North America.
“The Kevin’s Natural Foods team has delivered impressive growth since it was founded four years ago, and we look forward to drawing on our experience of nurturing and scaling founder-led brands to help bring their products to even more people.”
