Mars Food to acquire Preferred Brands
Mars Food has signed a definitive agreement to acquire Preferred Brands International, a Stamford, Conn.-based, fully integrated manufacturer and marketer of all-natural, ready-to-heat Indian and Asian food products sold primarily under the Tasty Bite brand.
Mars Food has signed a definitive agreement to acquire Preferred Brands International, a Stamford, Conn.-based, fully integrated manufacturer and marketer of all-natural, ready-to-heat Indian and Asian food products sold primarily under the Tasty Bite brand.
Tasty Bite’s portfolio includes a 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, Preferred Brands International also manufactures products that are sold through retailers in the United Kingdom and Australia and through foodservice in India. Tasty Bite manufactures products out of its Pune, India, manufacturing facility and exports the majority of its products to the United States. Preferred Brands International also has a significant foodservice business under which it supplies food products to other leading food manufacturers and quick-service restaurants in India.
“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, Mars Food global president. “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 United States, and leverage Tasty Bite’s strong product development pipeline, flavor expertise, and strategic sourcing of quality ingredients throughout our portfolio.”
The acquisition of Preferred Brands International is subject to applicable regulatory approvals and is expected to close by the fourth quarter of this year.