Gluten-Free Pioneer Mary’s Gone Crackers Sold to Dare Foods Subsidiary

Mary’s Gone Crackers, a manufacturer of organic gluten-free snacks founded in 2004, has been acquired by Rosseau Incorporated, a U.S.-based subsidiary of Canadian food conglomerate Dare Foods Limited.

Mary’s prior owner, legacy Japanese food business Kameda Seika Co., agreed to divest the brand in a debt equity swap, with a deal reached on April 29.

According to an April 30 filing by Kameda, Mary’s will convert a loan it received from Kameda into equity, in the amount of $60.7 million, through the debt equity swap process, which will be transferred to capital surplus. No shares will be issued.

Kameda had acquired Mary’s in 2012 as part of a strategic expansion into the U.S. market, with a goal of establishing a portfolio in the emerging better-for-you set.

However, the brand has recently “been facing challenging business conditions,” the company reported, including “soaring raw material prices” that have pushed Mary’s Gone Crackers to undergo reforms “such as improving production efficiency and launching new products.”

For its U.S. business, Kameda has opted to now focus on its TH Foods subsidiary, which it sees as an avenue to “invigorate the rice cracker products in the USA market, aiming to become a ‘Rice Innovation Company’ that maximizes the potential of rice and creates new value and new markets around the world”.

Reached by Nosh today, a spokesman for Mary’s Gone Crackers declined to comment on the deal, noting only that the brand is adapting to the new ownership structure.

The deal comes as Mary’s has been working to revamp its brand and grow via innovation. The company introduced a new package design earlier this year and is moving to a smaller 4 oz. pack size that is intended to lower its SRP. The brand previously reported doubling its manufacturing capacity in early 2024 and in August it brought on tech industry veteran Roger Yoder as VP of marketing and business development.

At Natural Products Expo West 2025 in March, CEO Michael Finete told Deli Market News that Mary’s hopes to draw in new consumers and drive trial with a lower price point, while also adding new snack lines like its Cheezee cheese cracker offerings, set to launch this summer.

According to the Kameda filing, Mary’s new owner, Rousseau, is incorporated in Delaware and lists Dare Foods chairman Bill Farrell as its primary representative.

In Canada, Dare manufactures several lines of crackers and cookie brands including Bear Paws, Breaktime and Normandie.