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WEST VALLEY CITY — A small Utah-based chocolate-covered fruit company is heading for an even larger market.
Global snacking giant Mars Inc. announced Monday that it is buying Trü Frü, adding it to its diverse portfolio of food brands like M&M's, Snickers and many other products. Terms of the agreement were not disclosed, and the deal is expected to be finalized during the first quarter of 2023, following regulatory approvals.
"We are thrilled to welcome one of the most innovative fruit-based snacks in the U.S. into the Mars family of brands," said Andrew Clarke, Mars Snacking's global president, in a statement. "Trü Frü 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."
Founded in 2017, West Valley City-based Trü Frü had already struck deals with several grocery and convenience stores, helping it rapidly expand throughout the U.S. in its first five years of existence. It currently has about 50 employees.
The company also snagged all sorts of praise within the food industry. For instance, it took home first place in the sweet snacks division of the 2019 Sweets & Snacks Expo, according to Confectionery News, and won a most-innovative new product award at this year's expo. It won big at this year's Candy Industry Buyer's Choice Awards, as well.
Its quick success caught the attention of Mars, whose officials said Monday that they view the brand as akin to some of its current healthier snacking options like KIND and Nature's Bakery. Mars officials added that the deal won't affect Trü Frü operations, as it will remain a separate business within the Mars Inc. family in an effort to "maintain its entrepreneurial spirit and the authenticity of its brand and culture."
Brian Neville, Trü Frü's CEO and one of its co-founders, will remain at the helm of the Utah company. He said that he's equally "delighted" about the acquisition.
"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," he said, in a statement Monday. "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."
