M&A Deal Summary

Mars Acquires Tru Fru

On December 19, 2022, Mars acquired food company Tru Fru

Acquisition Highlights
  • This is Mars’ 9th transaction in the Food sector.
  • This is Mars’ 12th transaction in the United States.
  • This is Mars’ 1st transaction in Utah.

M&A Deal Summary
Date 2022-12-19
Target Tru Fru
Sector Food
Buyer(s) Mars
Deal Type Add-on Acquisition
Advisor(s) Houlihan Lokey (Financial)
Parr Brown Gee & Loveless (Legal)

Target

Tru Fru

Valley City, Utah, United States
Tru Fru brings together nature’s fruit with real chocolate using unique products that have won numerous industry awards for taste, novelty, and fresh perspective. Tru Fru is based in Valley City, Utah.

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Buyer(S) 1

Buyer

Mars

McLean, Virginia, United States
Category Company
Founded 1911
Sector Food
Revenue 33.0B USD (2015)
DESCRIPTION

Mars is a global manufacturer of confectionery, pet food, and other food products and a provider of animal care services. Mars was established in 1911 and is headquartered in McLean, Virginia.

DEAL STATS #
Overall 16 of 22
Sector (Food) 9 of 11
Type (Add-on Acquisition) 15 of 18
State (Utah) 1 of 1
Country (United States) 12 of 15
Year (2022) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-01 Champion Petfoods

Edmonton, Alberta, Canada

Champion Petfoods is a Canadian specialty pet food manufacturer. Champion Petfoodss proprietary Orijen and Acana formulations use fresh and regional ingredients to produce biologically appropriate pet foods that are sold in more than 45 countries. Champion Petfoods is based in Edmonton, Alberta.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-03 Heska

Loveland, Colorado, United States

Heska sells, manufactures, markets, and supports diagnostic and specialty products and solutions for veterinary practitioners. The company's portfolio includes point-of-care diagnostic laboratory instruments and consumables including rapid assay diagnostic products and digital cytology services; local and cloud-based data services; practice information management software (“PIMS”) and related software and support; reference laboratory testing; allergy testing and immunotherapy; heartworm preventive products; and vaccines. Heska’s primary focus is supporting companion animal veterinarians in providing care to their patients. Its business is composed of two operating and reportable segments: North America and International. North America consists of the United States, Canada, and Mexico. International consists of geographies outside of North America, primarily in Germany, Italy, Spain, France, Switzerland, Australia and Malaysia. Heska’s strategic focus on point-of-care diagnostic laboratory products is included in both segments. The North America segment also includes the contract manufacturing of vaccines and pharmaceutical products and a small veterinary laboratory, and the international segment includes PIMS business and veterinary laboratories. Heska was founded in 1988 and is based in Loveland, Colorado.

Buy -
Mergr

Product

Company

Legal