M&As
Mars snaps up premium whole-fruit snacking brand Trü Frü
Trü Frü’s innovative, high-quality and unique snacks are made from real fruit and immersed in premium chocolate. The brand announced its arrival when it won two innovation awards at the 2019 Sweets & Snacks Expo in Chicago.
The snacks are available in both a frozen and shelf-stable format across the US. Trü Frü has demonstrated strong consumer appeal, and its total sales have increased by more than fivefold since 2017, since the brand was founded 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, Utah 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 US 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.”
Trü Frü is complementary to Mars’ platform of fast-growing health and 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.
Mars said that to preserve its legacy, the business will be led by current CEO, Brian Neville, who added: “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 realised 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.”
The transaction is subject to customary regulatory approvals and expected to close in the first quarter of 2023.
