NEW YORK, July 5 (Reuters) - Family-owned food giant Mars Inc on Wednesday agreed to buy Kevin's Natural Foods, which is known for its sous-vide meals, sauces, and side dishes, the companies said.
McLean, Virginia-based Mars, which generates about $48 billion in annual sales, has three major businesses - Mars Petcare, Mars Snacking, and Mars Food & Nutrition.
After the deal is completed, Kevin's will operate as a standalone brand under the food and nutrition unit.
Mars plans to grow its food business through more potential acquisitions in the near term, said Shaid Shah, global president at Mars Food & Nutrition.
McCray launched Kevin's after he was diagnosed with an autoimmune disorder, as he wanted to build a food brand that focused on healthy diets.
Persons:
Kevin's, Mars, Canin, Shaid Shah, Shah, Dan Costa, Kelsie Costa, Olson, Kevin McCray, McCray, Simpson Thacher, ArentFox Schiff, Sheppard Mullin, Anirban Sen, Abigail Summerville, Jamie Freed
Organizations:
YORK, Mars Inc, Mars Food, Nutrition, Mars, Heska Corp, Towerbrook Capital Partners, NewRoad Capital Partners, Unilever, Flagstone Foods, Campbell Soup, Citi, Burling, Wells, Wells Fargo Securities, Thomson
Locations:
McLean , Virginia, Modesto , California, North America, Bartlett, Covington, Wells Fargo, New York