BRUSSELS – Mars, Inc. has entered into an agreement to acquire Preferred Brands International, a manufacturer and marketer of Indian and Asian food products sold primarily under the Tasty Bite brand. Terms of the agreement were not announced.
The acquisition of Preferred Brands will add to Mars’ roster of food businesses, which include such brands as Uncle Ben’s, Masterfoods, Dolmio, Seeds of Change and others.
|Fiona Dawson, president of Mars Food Global
“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, president of Mars Food Global. “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.”
With offices in Stamford, Conn., Preferred Brands International manufactures its products from a plant in Pune, India, and exports them to the United States. The company also has a food service business that supplies products to quick-service restaurants in India.
|Ashok Vasudevan, c.e.o. of Preferred Brands
“Mars is one of the largest food companies in the world and a recognized leader and role model for corporate sustainability,” said Ashok Vasudevan, chief executive officer of Preferred Brands. “Mars Foods’ strong brand portfolio, global infrastructure and shared values makes it well-positioned to take Tasty Bite to the next level.”The transaction is expected to close during the fourth quarter of 2017.