MCLEAN, VA. — Mars, Inc. has agreed to acquire Grupo Turin, a manufacturer of chocolates in Mexico and owner of brands such as Conejos and Turin. The transaction is subject to approval from the Mexican Antitrust Commission and is expected to be complete in the first quarter of 2016. Financial terms of the transaction were not disclosed.
Mars said the acquisition will help the company position its business unit in Mexico to take advantage of the projected growth of the Mexican chocolate category over the next 10 years.
Turin is family-owned and brings 85 years of experience to Mars. Mars said the two companies share similar core principles and values, and it looks forward to merging its portfolios to continue growing in the market.“We will be proud to welcome Turin associates to Mars,” said Jean-Christophe Flatin, global president of Mars. “The strong cultural heritage of the two companies and our shared commitment to develop best-in-class talent, quality products and brands are great fundamentals on which to deliver value to our customers and our consumers in Mexico.”