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Mars to Acquire Kellanova: A Sweet Deal in the Snack Industry
2024-08-15 09:26:31
Business
Companies
Markets

Mars to Acquire Kellanova: A Sweet Deal in the Snack Industry

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US confectionery giant Mars is set for a major merger by purchasing snack producer Kellanova, known for its Pringles chips, in a $35.9 billion deal. This move aims to expand Mars' snack portfolio beyond candies like Snickers and M&Ms, venturing into the growing snack market dominated by Kellanova's popular brands like Cheez-It.

The acquisition signals Mars' strategic shift amid cocoa price pressures, diversifying into pet care. Wall Street reacts cautiously to the deal, while Kellanova's sale barely fluctuates post-inflation data, contrasting with other market movements.

Related news on that topic:

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.

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:

Al Jazeera
14. August 2024 um 22:32

M&M maker Mars to buy Cheez-It maker Kellanova in sector’s biggest deal

Economy
Finance
Mars acquired Wrigley chewing gum business for $23bn in 2008; deal expands Mars' snacking reach.
n-tv.de
14. August 2024 um 21:44

Pringles Manufacturer in Demand: Wall Street Reacts Cautiously to Inflation Data - n-tv.de

Economy
Finance
Kellanova, the manufacturer of Pringles and Cheez-It, sells its business for $35.9 billion to Mars; Inflation data only slightly affects stock prices; Nvidia gains, Intel loses and sells stake in Arm Holdings; Huawei plans to produce an AI chip; Alphabet stock falls due to possible split; Oil prices fall due to increased US oil inventory data.
NZZ
15. August 2024 um 03:30

Sweet and Salty Wedding: Mars Buys Pringles Maker Kellanova for $30 Billion

Economy
Finance
Mars is buying Kellanova, the maker of Pringles chips, for $30 billion. The transaction could have an impact on retailers like Migros and Coop.
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