Mars has announced it has signed an agreement to aquire Trü Frü, a better-for-you, snacking brand from its Founders and management team.
Trü Frü’s snacks are made from real fruit and immersed in chocolate, and are available in both a frozen and shelf-stable format across the US. The brand has reported strong consumer appeal and its total sales have increased by more than fivefold since 2017.
It was founded in 2017 by its management team which includes CEO Brian Neville, President Taz Murray and Chief Operating Officer Brandon O’Brien. The company is headquartered in West Valley City, Utah, and currently has 80 employees.
Speaking on the acquisition, Global President Andrew Clarke said he was “thrilled” to be adding the brand to Mars’ portfolio.
“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,” Andrew explained. “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.”
“We are delighted to be joining the Mars family of brands,” said Brian Neville, CEO and Co-Founder of Trü Frü. “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 a complementary acquisition for Mars, who has a fast-growing platform of health and wellness brands including Kind, a nut-based snack brand and Nature’s bakery, a baker of fruit-based wholesome snacks. With the addition of Trü Frü, Mars expects to be able to meet a growing range of dietary and taste preferences.
Trü Frü will operate as a separate business within Mars and to “preserve its legacy” will be led by current CEO Brian Neville. The transaction is expected to close in the first quarter of 2023.
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