Mars Food is acquiring Preferred Brands International, a Stamford, Connecticut-based, fully-integrated manufacturer and marketer of all-natural, ready-to-heat Indian and Asian food products sold primarily under the Tasty Bite brand. The Tasty Bite Foodservice business (TFS) is headquartered in India, and its product range includes sauces and frozen formed products. Tasty Bite manufactures products out of its Pune manufacturing facility and exports the majority of its products to the US. Preferred Brands International also enjoys a significant business in India supplying to other leading food manufacturers and quick-service restaurants. Tasty Bite has a subsidiary that is listed on the BSE and the National Stock Exchange. This subsidiary will continue to be listed after the acquisition.
All manufacturing is done in PBI’s subsidiary in India – Tasty Bite Eatables Ltd (TBEL). 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 North America, Preferred Brands International also manufactures products that are sold through retailers in the UK and Australia and in India.
Mars Food, a segment of Mars, Inc, 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, Masterfoods, Dolmio, Seeds of Change and others. The deal size was not disclosed. “Tasty Bite’s broad range of dinner time products, focused on Indian and Asian cuisines, makes it a natural complement to our existing portfolio,” said Mars Food Global President Fiona Dawson. “Tasty Bite is a fast growing Indian/Asian dinner time brand.”