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Mars Food Acquires Majority Stake in Preferred Brands International

Mars Food Acquires Majority Stake in Preferred Brands International


BRUSSELS, BELGIUM
Monday, August 14th, 2017

Mars Food just added to its ready-to-eat portfolio, having signed an agreement to acquire Stamford, Connecticut-based Preferred Brands International.

A fully-integrated manufacturer and marketer of all-natural, ready-to-heat Indian and Asian food products, the company sells primarily under the Tasty Bite® brand.

Fiona Dawson, Global President, Mars Food

"Tasty Bite's broad range of dinner time products, focused on Indian and Asian cuisines, makes it a natural complement to our existing portfolio," said Mars Food Global President Fiona Dawson. "Tasty Bite is a fast growing Indian/Asian dinner time brand. Upon closing of the acquisition of Tasty Bite, Mars Food will expand our all-natural vegetarian offerings in the U.S., and leverage Tasty Bite's strong product development pipeline, flavor expertise, and strategic sourcing of quality ingredients throughout our portfolio."

According to a press release, Tasty Bite's portfolio includes a wide range of on-trend vegetarian offerings, including:

  • Indian/Asian entrees
  • Spice and simmer meal kits
  • Organic rice and lentils

Manufacturing products sold to retailers throughout the UK and Australia, foodservice in India, and a majority of its sales generated in North America, Preferred Brands offers a wide reach for new parent Mars, and vice versa.

Tasty Bite's Channa Masala with No-Cook Blackberry Chutney

Mars Food, a segment of Mars, Incorporated, has a broad portfolio of brands around the world, including ready-to-eat and dry rices and grains, sauces, meal kits, and more under the brands UNCLE BEN'S®, MASTERFOODS®, DOLMIO®, SEEDS OF CHANGE®, and others.

Ashok Vasudevan, CEO, Tasty Bite

"We're thrilled to be joining the Mars Food family," said Tasty Bite’s CEO, Ashok Vasudevan. "The nearly quarter century of uninterrupted growth of Tasty Bite since its inception was powered by our deep commitment to sustainable practices and to the pursuit of consumer delight. Mars is one of the largest food companies in the world and a recognized leader and role model for corporate sustainability. Mars Foods' strong brand portfolio, global infrastructure, and shared values makes it well-positioned to take Tasty Bite to the next level."

Tasty Bite also has a subsidiary, listed on the Bombay Stock Exchange and the National Stock Exchange of India, which will continue to be listed after the acquisition.

While the acquisition of Preferred Brands International is subject to applicable regulatory approvals, it is expected to close by Q4 2017. Details and terms of the deal were not included in the release.

Preferred Brands InternationalMars Food


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