MCLEAN, Va., Dec. 19, 2022 /PRNewswire/ — Today Mars, Incorporated, a family-owned, global leader in confectionery, snacking, food, and pet care products and services announced that it has signed an agreement to acquire Trü Frü, a high-growth, better-for-you, whole-fruit snacking brand from its founders and management team.
Trü Frü’s innovative, high-quality and unique snacks are made from real fruit and immersed in premium chocolate. The snacks are available in both a frozen and shelf-stable format across the U.S. The brand has demonstrated strong consumer appeal, and its total sales have increased by more than fivefold since 2017.
Trü Frü was founded in 2017 by its management team, Chief Executive Officer Brian Neville, President Taz Murray, and Chief Operating Officer Brandon O’Brien. Trü Frü is headquartered in West Valley City, UT and has approximately 50 employees.
Andrew Clarke, Global President Mars Snacking said: “We are thrilled to welcome one of the most innovative fruit-based snacks in the U.S. into the Mars family of brands. Trü Frü is a perfect complementary fit for our health & wellness portfolio and our capabilities will help the brand strengthen its operations, broaden distribution and accelerate growth. 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.”
Brian Neville, CEO and co-founder of Trü Frü, stated: “We are delighted to be joining the Mars family of brands. 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.”
Trü Frü is complementary to Mars’ platform of fast-growing health & wellness brands, which includes KIND, a nut-based snacking leader, and Nature’s Bakery, a baker of fruit-based wholesome snacks. With the addition of Trü Frü, Mars will be able to meet a growing range of dietary and taste preferences. And, like KIND and Nature’s Bakery, Trü Frü will operate as a separate business within Mars to maintain its entrepreneurial spirit and the authenticity of its brand and culture. To preserve its legacy, the business will be led by current CEO, Brian Neville.
The transaction is subject to customary regulatory approvals and expected to close in the first quarter of 2023. The terms of the transaction were not disclosed.
Wells Fargo Securities served as Mars’ financial advisor, and Simpson Thacher acted as Mars’ legal advisor. Houlihan Lokey served as Trü Frü’s financial advisor, and Parr Brown acted as Trü Frü’s legal advisor.
About Mars, Incorporated
For more than a century, Mars, Incorporated has been driven by the belief that the world we want tomorrow starts with how we do business today. This common purpose unites our 140,000+ Associates. It is at the center of who we are as a global, family-owned business, and it fuels how we are transforming, innovating, and evolving to make a positive impact on the world.
Every year, our diverse and expanding portfolio of quality confectionery, food, and pet care products and services delight millions of people and supports millions of pets. With almost $45 billion in annual sales, we produce some of the world’s best-loved brands including Ben’s Original™, CESAR®, Cocoavia®, DOVE®, EXTRA®, KIND®, M&M’s®, SNICKERS®, PEDIGREE®, ROYAL CANIN®, and WHISKAS®. We are creating a better world for pets through nutrition, breakthrough programs in diagnostics, wearable health monitoring, DNA testing, pet welfare and comprehensive veterinary care with AniCura, BANFIELD™, BLUEPEARL™, Linnaeus and VCA™.
We know we can only be truly successful if our partners and the communities in which we operate prosper. The Mars Five Principles – Quality, Responsibility, Mutuality, Efficiency and Freedom – inspire our Associates to act every day to help create a better world tomorrow in which the planet, its people and pets can thrive.
About Trü Frü
Trü Frü is a magical brand that brings together nature’s fruit with real chocolate. Our unique products have won numerous industry awards for taste, novelty, and our fresh perspective. We have been delighting consumers for less than five years and are still at the beginning of our story.
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