NEWS IN BRIEF
KIND acquires fig bar brand Nature's Bakery
Adding Nature's Bakery to the KIND portfolio is a logical match, said Daniel Lubetzky, founder and executive chairman of KIND, which was acquired by Mars last month in a reported $5bn deal.
"If you look at pantries across the country, odds are you will find KIND and Nature's Bakery products sitting side-by-side," said Lubetzky.
"Both brands have created loyal followings by being true to their unique value propositions. It comes as no surprise that, along with KIND, they remain one of the growth leaders within the snack bar category."
The acquisition comes as the nutrition bar category (which includes KIND) experiences sales declines due to the pandemic (-5.8% in March/April) as consumers were less inclined to reach for 'on-the-go' snacks due to nationwide lockdowns, according to a report by Bernstein released in May. Cereal and granola bars (such as Nature's Bakery), on the other hand, bucked the trend with 8.2% sales growth in March and April, noted Bernstein.
However, despite sales decline impacting nearly all segments of the bar category, Bernstein predicted that the overall category should return to growth.
Created in 2011 and run by a multi-generational family of bakers who sought to make wholesome food accessible, Nature's Bakery founder Dave Marson, said, "Nature's Bakery will benefit from continued reach and expansion of this vision through its partnership with KIND."
The acquisition of Nature's Bakery and its line of nut-free soft-baked goods will help to differentiate KIND's existing portfolio, which is mostly nut-based, while creating a separate health & wellness platform business within Mars.
Chris Lansing will continue as CEO of Nature's Bakery reporting to Juan Martin, global president for KIND.
