Mars, a Mclean, VA-based company which specializes in confectionery, food, and pet care products and services, acquired Kevin’s Natural Foods, a Modesto, CA-based nutritious meal company.
The amount of the deal was not disclosed. The transaction, which is subject to customary regulatory approvals and expected to close in the third quarter of 2023, includes an exit of Kevin’s minority partners, TowerBrook Capital Partners L.P., an international investment management firm, and NewRoad Capital Partners.
Co-founded by Dan Costa, Kelsie Costa-Olson, and Kevin McCray, Kevin’s Natural Foods makes chef-inspired sous-vide meals, sides, and sauces using whole foods and simple ingredients. The company has enjoyed double-digit growth since it was founded in 2019 and is now available across 17,000+ retail locations, from grocery stores and supermarkets, through to digital commerce.
Kevin’s Natural Foods will operate as a standalone business within Mars Food & Nutrition, reporting to its President, Shaid Shah.
Founded in 2019, the company has approximately 180 employees, with products currently sold in the U.S., U.K., Canada and Mexico.
Mars is a company focused on confectionery, food, and pet care products and services. With around $48 billion in annual sales, it produces some of brands including Ben’s Original, Masterfoods, Dolmio, Cesar, CocoaVia, Dove, Extra, Kind, M&M’s, Snickers, Pedigree, Royal Canin, and Whiskas.
FinSMEs
05/07/2023