Mars Food Completes Acquisition of Preferred Brands International and Tasty Bite
Mars Food has finalised the acquisition of Preferred Brands International, a US-based, fully integrated manufacturer and marketer of all-natural, ready-to-heat Indian and Asian food products sold primarily under the Tasty Bite® brand. Preferred Brands International has an Indian subsidiary in which it holds a majority stake, which is listed on the Bombay Stock Exchange and the National Stock Exchange of India. This subsidiary will continue to be listed after the acquisition.
Tasty Bite’s® portfolio includes a wide 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 the United States, Preferred Brands International and its subsidiaries also manufacture products that are sold through retailers in the UK, Canada, Australia, and New Zealand and through foodservice in India.
Mars Food, a segment of Mars, Incorporated, has a broad portfolio of brands including ready-to-eat and dry rices and grains, sauces, meal kits, meal helpers, and spices under the brands UNCLE BEN’S®, MASTERFOODS®, DOLMIO®, SEEDS OF CHANGE®, and others.
Tasty Bite® products are manufactured out of a facility at Pune in India, and the majority of its products are exported to the US. Preferred Brands International also enjoys a significant foodservice business under which it supplies food products to other leading Indian food manufacturers and quick service restaurants through its subsidiary in India.
