This story requires our BI Prime membership. To read the full article,Granola bar-maker Kind is launching its biggest expansion to date, expanding to frozen bars, refrigerated nut-butter bars and snacking chocolate clusters.
The company plans to spend "tens of millions of dollars more" to market each product throughout the year and will hit $1.6 billion in sales in 2020, founder and chairman Daniel Lubetzky told Business Insider. More than 15 years later, the healthy-snack company is launching its biggest expansion to date, getting into frozen bars, refrigerated nut-butter bars and snacking chocolate clusters commonly called bark, and is also introducing new grain-free versions of its clusters products.
But as the company saw plant-based foods take off and new entrants enter the healthy foods category, it realized that the best way to scale and tackle the growing competition was by getting investment from a bigger player like Mars, although Lubetzky did contemplate selling or taking the company public.
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