Mars, Incorporated Acquires Kevin's Natural Foods

TowerBrook and NewRoad Capital Partners Invest in Kevin's Natural Foods

September 3, 2021

Food & Beverage

Kevin's Natural Foods received a minority equity investment from TowerBrook Capital Partners and NewRoad Capital Partners to fund production expansion, product innovation, and broader distribution. Financial terms were not disclosed; the company plans to use the capital to increase capacity and introduce the brand to millions of new customers.

Mars, Incorporated Acquires KIND North America

November 17, 2020

Food & Beverage

Mars, Incorporated announced the acquisition of KIND North America, bringing the business into the Mars Family of Companies and combining it with KIND International. Founder Daniel Lubetzky will retain an ongoing financial stake and the deal is intended to accelerate KIND's expansion across geographies and product categories as part of Mars' healthy snacking platform.

Danone Acquires Kate Farms

July 1, 2025

Food & Beverage

Danone has acquired Kate Farms, a U.S.-based maker of plant-based clinical nutrition formulas, bringing the company into Danone’s North America Medical Nutrition business. Investors including Novo Holdings, Goldman Sachs, Kaiser Ventures, Main Street Advisors, Aliment, Coeffecient, Ithaka and individual investors supported Kate Farms’ growth and are parties to the transaction. Kate Farms will continue operating as part of Danone’s North America Medical Nutrition unit under leadership led by Brett Matthews.

House Foods Holding USA Acquires Keystone Natural Holdings from Keystone Capital

September 20, 2022

Food & Beverage

House Foods Holding USA, the North American subsidiary of House Foods Group Inc., has acquired Keystone Natural Holdings (KNH) from private equity firm Keystone Capital. The acquisition expands House Foods' portfolio of value-added tofu and plant-based products and supports accelerated U.S. market expansion, adding KNH's Folcroft, Pennsylvania manufacturing capabilities to House Foods' North American footprint.

Nexus Capital Acquires Smucker's Natural Beverage and Grains Businesses (R.W. Knudsen, TruRoots)

January 31, 2022

Food & Beverage

The J.M. Smucker Co. completed the sale of its natural and organic beverage and grains businesses — including the R.W. Knudsen and TruRoots assets and trademarks plus a licensing agreement for Santa Cruz Organic beverages — to Nexus Capital Management LP for $110 million in cash (subject to working capital adjustments). The transaction includes manufacturing and distribution facilities in Chico, California and Havre de Grace, Maryland, and Nexus plans to operate the acquired brands as an independent consumer platform led by Bobby Chacko as chairman and CEO.

Mars Acquires Kellanova

December 11, 2025

Food & Beverage

Mars, Incorporated has acquired Kellanova in an all-cash transaction valued at $35.9 billion ($83.50 per share). The deal brings Kellanova's snack and breakfast brands — including Pringles, Cheez-It and Pop-Tarts — into the Mars Snacking portfolio to expand Mars' global snacking scale, capabilities and product categories.