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Mars Acquires Kellanova in $30B Deal: A Game-Changer in Snack ...
2024-08-14 09:00:08
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Mars Acquires Kellanova in $30B Deal: A Game-Changer in Snack Industry

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Mars, renowned for Snickers and M&M's, is set to acquire Kellanova, the Pringles maker, for a record $30 billion. Kellanova's recent surge with a 32% stock gain and strong profitability contrasts the S&P 500's recent struggles.

The deal marks Mars' largest acquisition, surpassing the 2008 Wrigley buyout. Kellanova emerged in 2023 from Kellogg's North America business.

Mars aims to pay $83.50 per share, signaling a significant move in the snack market landscape.

Related news on that topic:

Mars Close to Acquiring Snack Maker Kellanova in $30 Billion Deal

Mars Inc. is planning to acquire Kellanova, the maker of Pringles chips and Eggo waffles, in a nearly $30 billion deal, according to the Wall Street Journal. This acquisition comes as the packaged-food industry is facing declining volumes, slowing growth, and a weakening global consumer. Companies, including Mars, are turning to innovation and new markets to boost sales amidst pushback from shoppers on price hikes. Kellanova, which spun off its cereal business last year, has seen strong earnings and recently raised its full-year guidance driven by new products and marketing initiatives. The deal would combine Mars' iconic brands like Twix, Bounty, Milky Way, M&M's, and Cheez-It with Kellanova's popular snack brands, such as Pop-Tarts, Rice Krispies Treats, and Town House. This acquisition is part of Mars' strategy to diversify its $47 billion portfolio and offset challenges from inflation and weight-loss drugs. The deal is still subject to approval from Kellanova shareholders and regulatory authorities.

Mars to Acquire Pringles Maker Kellanova in $36 Billion Deal

Mars, the candy giant, is set to acquire Kellanova, the maker of popular snacks such as Pringles, Cheez-It, and Pop-Tarts, in a record-breaking $36 billion deal. This acquisition marks Mars' largest since its $23 billion purchase of Wrigley in 2008. Kellanova, previously a spin-off from Kellogg's, will integrate its brands into Mars' snacking portfolio, joining recent additions like KIND Snacks and Nature's Bakery. The all-cash transaction is expected to close in the first half of 2025, subject to approval. Mars' move to diversify its offerings comes as cocoa prices soar, and the company aims to tap into the growing demand for healthier snack options. The merger of these two well-established snack companies presents a significant opportunity for Mars to expand its sustainability-focused snacking business and leverage Kellanova's distribution network in Africa.

Read 2 more recent news on this topic

The press radar on this topic:

Yahoo!
14. August 2024 um 02:41

Snickers maker Mars to pay $83.50 per share for Kellanova, WSJ reports

Economy
Finance
(Reuters) - Family-owned packaged food giant Mars, whose candy brands include M&M's and Snickers, is expected to pay $83.50 per share for food maker Kellanova, the Wall Street Journal reported on Tuesday citing people familiar with the matter. (Reporting by Mrinmay Dey in Bengaluru; Editing by Mrigank Dhaniwala)
DER SPIEGEL
14. August 2024 um 07:42

Mars offers around 30 billion dollars for Pringles manufacturer Kellanova - DER SPIEGEL

Economy
Finance
Mars, the manufacturer of Snickers and M&M's, is planning to acquire Kellanova, the Pringles manufacturer, for nearly 30 billion dollars.
seekingalpha
14. August 2024 um 06:48

Candy maker-Mars strikes deal to buy Kellanova for $30B - report

Economy
Finance
Mars is acquiring snack firm Kellanova, spun off from Kellogg, in a $30B all-cash deal, its largest ever, surpassing the $23B Wrigley buyout in 2008. Kellanova's stock has gained 32% in the last month, with high profitability scores, though the S&P 500 has seen its worst session since 2022.
n-tv.de
14. August 2024 um 08:28

Confectionery giant Mars plans to acquire Pringles manufacturer Kellanova - n-tv.de

Economy
Finance
Mars plans to acquire Kellanova, the Pringles manufacturer; Kellanova was formed in 2023 through the spin-off of Kellogg's North American business as WK Kellogg.
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