Upon closing of the acquisition of Tasty Bite, Mars Food will expand our all-natural vegetarian offerings in then US, says Fiona Dawson, global president of Mars Food. Bengaluru: Mars Food, a unit of American chocolatier Mars Inc., said it has agreed to acquire another US-based firm that makes ready-to-eat products—Preferred Brands International. Preferred Brands, which sells its products under the brand name Tasty Bite, also runs an Indian subsidiary called Tasty Bite Eatables Ltd and manufactures its products at a facility located in Pune. Tasty Bite Eatables is listed on BSE and will continue to be listed after the acquisition is completed, Mars Food said in a statement on Monday. “Mars Foods’ strong brand portfolio, global infrastructure, and shared values make it well-positioned to take Tasty Bite to the next level,” Tasty Bite chief executive officer Ashok Vasudevan said in the statement.

Source: Mint August 14, 2017 19:30 UTC