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Mars to Acquire Pringles Maker Kellanova in $36 Billion Deal
2024-08-14 23:55:08
Business
Companies
Food

Mars to Acquire Pringles Maker Kellanova in $36 Billion Deal

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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.

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 Acquires Kellanova in $30B Deal: A Game-Changer in Snack ... Snack Industry

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.

Read 2 more recent news on this topic

The press radar on this topic:

The Street
22. August 2024 um 14:18

Mars to buy Pringles-maker Kellanova in $36 billion deal TheStreet Daily Newsletter

Economy
Finance
Environment
Mars, a $50 billion candy company, is acquiring Kellanova, the $13 billion non-cereal unit spun off from Kellogg's, in a $35.9 billion deal. The merger combines iconic snack brands like Snickers, M&M's, and Pringles with food brands like Pop-Tarts, Eggo, and MorningStar Farms, as well as Mars' previous acquisitions of Kind bars and Nature's Bakery. The CEO of Mars stated the deal presents a 'substantial opportunity' to develop a 'sustainable snacking business' by combining the companies' stren..
BBC
14. August 2024 um 13:32

Mars to buy Pringles and Pop-Tart maker for $36bn

Economy
Finance
Environment
Mars to acquire Pringles, Pop-Tart maker Kellanova for $36bn; deal dwarfs $23bn Wrigley takeover; Mars and Kellanova offer healthier options like Nature's Bakery, Nutrigrain; Kellanova spun off from Kelloggs in 2023, to become part of Mars Snacking in Chicago; deal expected to complete in 2025; Mintel reports trend towards healthier snacking in UK; UK laws ban junk food promotions from October 2022, volume discounts from October 2025; Institute for Fiscal Studies says food and drink prices rose..
forbes
14. August 2024 um 13:00

Mars Buying Pringles, Cheez-It Maker Kellanova For Nearly $36 Billion

Economy
Finance
Mars, the candy giant, will acquire Kellanova, the maker of Pringles, Cheez-It, Eggo, Pop-Tarts, and Rice Krispies Treats, in a $35.9 billion deal, the largest in the packaged food industry since Mars paid $23 billion for Wrigley in 2008. Kellanova was previously a spin-off from Kellogg's, which later split into Kellanova and the cereal-focused WK Kellogg. The all-cash transaction, approved by Kellanova's board, is expected to close in the first half of 2025, integrating Kellanova's brands into..
The Street
16. August 2024 um 14:04

Alphabet, Starbucks down; Kellanova up - Midday stock movers TheStreet Daily Newsletter

Finance
Economy
Stocks gain as inflation cools. Alphabet down 3% on Google breakup. Kellanova, Cheez-It and Pringles maker, jumps 8% on $35.9B Mars deal. Cardinal Health rises 5% on Q4 beat, raises FY24 revenue, FY25 EPS guidance. Google may face limits on AI content use.
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