Mars Food Grabs a Tasty Bite
Mars Inc.'s food division has signed a definitive agreement to acquire Preferred Brands International, a Stamford, Connecticut-based manufacturer of all-natural, ready-to-heat Indian and Asian food products sold primarily under the Tasty Bite brand.
Preferred Brands' Tasty Bite portfolio encompasses a wide range of vegetarian offerings, including Indian/Asian entrees, spice and simmer meal kits, and organic rice and lentils. While the majority of sales are generated in North America, the company also makes products that are sold through retailers in the UK and Australia and foodservice operations in India. Tasty Bite products are manufactured in Pune, India.
The Mars Food business boasts a broad portfolio of products including ready-to-eat and dry rices and grains, sauces, meal kits, meal helpers, and spices under brands such as Uncle Ben's, Masterfoods, Dolmio and Seeds of Change.
"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 Fiona Dawson, global president of Mars Food. The acquisition will let Mars "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."
The acquisition is expected to close by the end of 2017.