Houlihan Lokey Advises Trü Frü

Houlihan Lokey is pleased to announce that Trü Frü LLC (Trü Frü) has been acquired by Mars, Inc. (Mars). This deal closed February 1, 2023.

Trü Frü is a high-growth, better-for-you, whole-fruit snacking brand. The brand’s innovative, high-quality, and unique snacks are made from real fruit and immersed in premium chocolate. The snacks are available in both a frozen and shelf-stable format across the U.S. The brand has demonstrated strong consumer appeal, and its total sales have increased by more than fivefold since 2017. Trü Frü was founded in 2017 by its management team, Chief Executive Officer Brian Neville, President Taz Murray, and Chief Operating Officer Brandon O’Brien. Trü Frü is headquartered in West Valley City, Utah, and has approximately 50 employees.

For more than a century, Mars has been driven by the belief that the world the company wants tomorrow starts with how Mars does business today. This common purpose unites the company’s 140,000+ associates. It is at the center of who Mars is as a global, family-owned business, and it fuels how Mars is transforming, innovating, and evolving to make a positive impact on the world. Every year, the company’s diverse and expanding portfolio of quality confectionery, food, and pet care products and services delights millions of people and supports millions of pets. With almost $45 billion in annual sales, Mars produces some of the world's best-loved brands, including Ben's Original™, CESAR®, CocoaVia®, DOVE®, EXTRA®, KIND®, M&M's®, SNICKERS®, PEDIGREE®, ROYAL CANIN®, and WHISKAS®. Mars is creating a better world for pets through nutrition, breakthrough programs in diagnostics, wearable health monitoring, DNA testing, pet welfare, and comprehensive veterinary care with AniCura, BANFIELD™, BLUEPEARL™, Linnaeus, and VCA™.

Houlihan Lokey acted as sellside adviser to Trü Frü on this deal, which represents another successful transaction for Houlihan Lokey in the food and beverage industry.