McLEAN, Va. — Mars Inc. announced Monday that it has signed an agreement to acquire Trü Frü, a whole-fruit snacking brand, from its founders and management team.
TrĂĽ FrĂĽ's snacks are made from real fruit and immersed in premium chocolate. The snacks are available in both a frozen and shelf-stable format across the U.S. The brand has demonstrated strong consumer appeal, and its total sales have increased by more than five-fold since 2017.
TrĂĽ FrĂĽ was founded in 2017 by its management team: Chief Executive Officer Brian Neville, President Taz Murray and Chief Operating Officer Brandon O'Brien. TrĂĽ FrĂĽ is headquartered in West Valley City, Utah, and has approximately 50 employees.
"We are thrilled to welcome one of the most innovative fruit-based snacks in the U.S. into the Mars family of brands. TrĂĽ FrĂĽ is a perfect complementary fit for our health & wellness portfolio and our capabilities will help the brand strengthen its operations, broaden distribution and accelerate growth," said Andrew Clarke, global president of Mars Snacking. "We want to be the preferred home for emerging and founder-led brands like TrĂĽ FrĂĽ. We are looking forward to working with the founders and the whole TrĂĽ FrĂĽ team to help them continue their long-term growth journey and bring the brand to even more people."
"We are delighted to be joining the Mars family of brands," Neville said. "Over the years, we have observed Mars' success in building a global better-for-you snacking platform with both KIND and Nature's Bakery. From the first moment we met the Mars team, we realized they were the right long-term partner for the company we had founded and invested so much of our time and energy in. They share our passion for healthier snacking, respect and admire the values that have made us successful, and have the capabilities we need to take our company to next level."
TrĂĽ FrĂĽ is complementary to Mars' platform of fast-growing health and wellness brands, which includes KIND, a nut-based snacking leader, and Nature's Bakery, a baker of fruit-based wholesome snacks. With the addition of TrĂĽ FrĂĽ, Mars will be able to meet a growing range of dietary and taste preferences. And, like KIND and Nature's Bakery, TrĂĽ FrĂĽ will operate as a separate business within Mars to maintain its entrepreneurial spirit and the authenticity of its brand and culture. To preserve its legacy, the business will be led by current CEO Brian Neville.
The transaction is subject to customary regulatory approvals and expected to close in the first quarter of 2023. The terms of the transaction were not disclosed.
