Mars Inc on Wednesday agreed to buy Kevin's Natural Foods, which is known for its sous-vide meals, sauces, and side dishes, the companies said.
The deal values private equity-backed Kevin's at nearly $800 million, according to people familiar with the matter. Kevin's started exploring options, which included a sale of the company, earlier this year.
In petcare, Mars operates brands like Pedigree, Whiskas, and Royal Canin, and it recently expanded its footprint in the sector through the acquisition of veterinary equipment firm Heska Corp. "We are trying to deliver on a mission we have to enable more healthier and more flavorful diets for consumers worldwide, while Kevin's is trying to empower the busiest people to eat clean without sacrificing flavors," Shah said in an interview.Modesto, California-based Kevin's, which counted private equity firms Towerbrook Capital Partners and NewRoad Capital Partners among its backers, was co-founded in 2019 by Dan Costa, Kelsie Costa-Olson, and Kevin McCray.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
TikTok Claims These Foods Can Relieve Sunburn, And Doctors Actually Back It UpYou might be able to find treatment for peeling skin, redness and irritation right in your fridge.
Read more »
8 Best Organic Foods To Buy at Costco Right NowFrom fan-favorite snacks to basic pantry staples, these are some of Costco's most popular organic products right now.
Read more »
On this day in history, July 5, 1937, SPAM is introduced by Hormel FoodsThe processed meat in a can known as SPAM was introduced on this day in history, July 5, 1937. The product is now sold in 11 varieties around the world.
Read more »
IBS study: Helping patients find food triggers fasterThe process of elimination to find IBS trigger foods can take up to four months. But a new blood test, called inFoods, can cut that time down to two to four weeks.
Read more »
NASA’s Mars Ingenuity chopper 'phones home' after 63 days of dead silenceThe team announced that they received confirmation of Flight 52, in which Ingenuity successfully flew 1,191 feet above the surface of Mars for 139 seconds.
Read more »