MCLEAN, VA. — Mars, Inc. has agreed to acquire whole-fruit snacking brand Trü Frü for an undisclosed sum.
Founded in 2017, Trü Frü offers a range of frozen and shelf-stable products featuring fruit coated in chocolate. The business is headquartered in West Valley City, Utah, and has approximately 50 employees. Its total sales have increased by more than fivefold over the past five years, according to the company.
Following the transaction, Trü Frü will operate as a business unit within Mars, led by current chief executive officer and co-founder Brian Neville.
“We are delighted to be joining the Mars family of brands,” Mr. Neville said. “Over the years, we have observed Mars’ success in building a global better-for-you snacking platform with both Kind and Nature’s Bakery. From the first moment we met the Mars team, we realized they were the right long-term partner for the company we had founded and invested so much of our time and energy in. They share our passion for healthier snacking, respect and admire the values that have made us successful, and have the capabilities we need to take our company to next level.”
Andrew Clarke, global president of Mars Snacking, said the addition builds on the previous acquisitions of Kind and Nature’s Bakery to expand Mars’ platform of health and wellness brands.
“Trü Frü is a perfect complementary fit for our health and wellness portfolio and our capabilities will help the brand strengthen its operations, broaden distribution and accelerate growth,” Mr. Clarke said. “We want to be the preferred home for emerging and founder-led brands like Trü Frü. We are looking forward to working with the founders and the whole Trü Frü team to help them continue their long-term growth journey and bring the brand to even more people.”
The transaction is subject to customary regulatory approvals and is expected to close in the first quarter of 2023.