Mars has signed an agreement to acquire Trü Frü, a better-for-you, whole-fruit snacking brand. The business will continue to be led by the current CEO, Brian Neville.
Trü Frü products are available in both a frozen and shelf-stable format across the U.S. and have demonstrated strong consumer appeal: the company’s total sales have increased by more than fivefold since 2017.
"We are thrilled to welcome one of the most innovative fruit-based snacks in the U.S. 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,” said Andrew Clarke, global president of Mars Snacking, in a statement. “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 based in West Valley City, Utah and has approximately 50 employees.
“Over the years, we have observed Mars' success in building a global better-for-you snacking platform with both KIND and Nature's Bakery,” said Neville in a statement. "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 complements Mars' platform of fast-growing health & wellness brands, which includes Kind and Nature's Bakery, according to the company. Trü Frü will operate as a separate business within Mars to maintain its entrepreneurial spirit and the authenticity of its brand and culture.
The transaction is subject to customary regulatory approvals and is expected to close in the first quarter of 2023. The terms of the transaction were not disclosed.
Related: KeHE Releases 2023 Trend Report; SFA Members Receive Awards, Accolades