KEVIN'S NATURAL FOODS
Acquired by
MARS
KEVIN'S NATURAL FOODS acquired by MARS
Target
KEVIN'S NATURAL FOODS
Acquirer
MARS
Context
Mars, Incorporated has entered into a definitive agreement to acquire Kevin's Natural Foods. This acquisition marks a significant step in Mars Food & Nutrition's strategy to expand into the high-growth "healthy eating" segment. Kevin's Natural Foods will operate as a standalone brand within the Mars Food & Nutrition division, retaining its entrepreneurial culture while leveraging Mars' global distribution network and R&D capabilities to scale. The deal provides an exit for early investors Towerbrook Capital and NewRoad Capital.
The transaction values KEVIN'S NATURAL FOODS at an EV/Revenue multiple of LOGIN.
This transaction is part of the AgriFood industry, which currently tracks an average EBITDA multiple of 10.1x since the beginning of 2026, 9.8% decrease compared to 2025. This data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.
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Target
Founded in 2019 and headquartered in Modesto, California, Kevin's Natural Foods is a fast-growing producer of healthy, refrigerated entrees, sides, and sauces. The company was co-founded by Kevin McCray, Dan Costa, and Kelsie Costa-Olson after McCray sought dietary solutions for an autoimmune disorder. Kevin's utilizes a proprietary sous-vide cooking method to create tender, shelf-stable (refrigerated) meats that are Paleo, Keto, and Gluten-Free certified, without sacrificing flavor. The company was previously backed by private equity firms Towerbrook Capital Partners and NewRoad Capital Partners.
Ent. Value
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Equity Value
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Multiples Analysis
EV / Revenue
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EV / EBITDA
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EV / EBIT
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Historical Financials (EUR)
Other operations with KEVIN'S NATURAL FOODS
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