McLean, Virginia-based candy giant Mars Inc. will buy the majority of healthy nut snack bar maker Kind North America that it doesn’t already own for an undisclosed sum.
The New York Times reported the value of the deal is approximately $5 billion.
Mars acquired a minority stake in New York-based Kind in 2017, with an option to buy the company outright down the road, and through that partnership formed Kind International to distribute its snacks internationally.
Under terms of the Kind North America acquisition, it, along with Kind International, will operate as one organization across 35 countries.
Kind founder Daniel Lubetzky will keep a stake in the company. Kind was founded in 2004, one of the first in the organic and natural snack lines.
Kind’s bars include whole nuts, whole grains and other nutrient-dense foods, and recently launched new products such as Kind Bark, Kind Frozen Bars and Kind Smoothie Bowls.
In addition to retail stores, Kind products are also carried at Starbucks cafes.
Along with its century-old candy empire, privately-held Mars also owns pet food brands such as Pedigree and Royal Canid, pet health companies such as Banfield Pet Hospitals, and Ben’s Original rice brands.