Preferred Brands International (PBI), a manufacturer and marketer of Indian and Asian food products sold under the Tasty Bite brand, has been acquired by Mars Food for an undisclosed sum.
The Tasty Bite product line is manufactured at a facility in Pune, India, by PBI’s Indian subsidiary Tasty Bite Eatables Ltd., a public company listed on the Bombay Stock Exchange and the National Stock Exchange of India. This subsidiary will continue to be listed after the acquisition.
The Stamford-based PBI also provides food products to other leading food manufacturers and quick-service restaurants in India. Mars Food, whose brand portfolio includes Uncle Ben’s and Seeds of Change, is a division of Mars Inc., which is globally headquartered in Brussels and operates its North American headquarters out of Chicago.
“Tasty Bite’s broad range of dinner time products, focused on Indian and Asian cuisines, makes it a natural complement to our existing portfolio,” Mars Food Global President Fiona Dawson said. “Tasty Bite is a fast growing Indian/Asian dinner time brand. Upon closing of the acquisition of Tasty Bite, Mars Food will expand our all-natural vegetarian offerings in the U.S., and leverage Tasty Bite’s strong product development pipeline, flavor expertise, and strategic sourcing of quality ingredients throughout our portfolio.”