Mars Agrees To Buy Snack Brand Trü Frü
Mars has purchased whole-fruit snack maker Trü Frü in a deal aimed at helping the strategic continue to build out its presence in the snacking aisle.
Terms of the deal were not disclosed.
The global food giant plans to keep Trü Frü as an independent business unit led by current CEO and co-founder Brian Neville within the larger organization, according to a press release. The company did not indicate how co-founders Taz Murray, Trü Frü’s president, and Brandon O’Brien, its COO, may be involved in the business moving forward.
Founded in 2017, West Valley City, Utah-based Trü Frü produces chocolate or “creme” dipped dried fruits and chocolate dipped frozen fruits. For its shelf-stable line, it uses a process it calls “hyper drying” that produces a crunchy texture similar to freeze drying.
“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,” said Neville, CEO and co-founder of Trü Frü, in a press release. “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 [the] next level.”
According to Mars, Trü Frü’s total sales have increased over fivefold since 2017. The products are sold in retailers nationwide including Wegmans, Target, Costco, Shaws, Wal-Mart, The Fresh Market, RaceTrac, Kroger and Albertsons. According to SPINS data, the company has over $85 million in sales, not including its Costco business.
As of late, snacking has been a major focus for Mars, highlighted by its acquisition of KIND in 2020, which in turn acquired soft-baked bar brand Nature’s Bakery later that year. Both KIND and Nature’s Bakery are still run as independent business units.
Mars has previously moved health and wellness brands would fall under KIND’s leadership team, however, that was not mentioned with the Trü Frü deal.
“As a business, our ambition is clear: Lead the snacking category of tomorrow,” Andrew Clarke, global president Mars snacking, said in a LinkedIn post. “Continuing to champion and create a growth environment for pioneering emergent brands, like Trü Frü, is at the very heart of our ambition.”
The past few weeks have seen a spate of deals in the snack set: In late November, snack company Powered by Real Food from the Ground Up announced its acquisition of puffed chip brand Popchips in a letter to retailers, while last week Barilla America acquired the Back to Nature line from B&G Foods.
Many of these recent deals reflect companies’ desire to find plug-and-play businesses that can be easily integrated with existing supply chains and production partners — or in the case of B&G, a desire to divest from brands that no longer meet their core business theses. Trü Frü will benefit from Mars’ strengths in sourcing and producing chocolate, particularly enrobed items.
“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,” Clarke said. “We want to be the preferred home for emerging and founder-led brands like Trü Frü.”
