If You Can't Beat Them Buy Them: Mars Takes Stake in Kind
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Mars is taking a stake in snack maker Kind, signaling just how desperate big food makers are to thrive in an industry where startups are winning.
“I call it buying scared, is what we’re kind of seeing in the food industry right now,” says Shea Food Consultants President Rick Shea. “Companies have realized that they need to be in some of these faster-growing categories with brands and/or products that are better positioned for the long term.”
Mars is already in the category. Back in 2015, the company eagerly announced the national rollout of Goodnessknows, a snack bar featuring four small squares of fruits and nuts sitting atop dark chocolate. That line and a competing one from Hershey, under the Brookside name, pitted the major candy makers directly against Kind in the growing snack bar space.
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