Mars to Acquire Kellanova in $29B Deal

Major Snack Food Giants to Merge

New York, NY - August 14, 2024 - Mars, Inc., the renowned candy and confectionery giant behind brands like M&M's, Snickers, and Skittles, has announced its acquisition of Kellanova, the maker of Cheez-It and Pringles, in a deal valued at approximately $29 billion.

Terms of the Agreement

Under the terms of the acquisition, Mars will acquire all outstanding equity in Kellanova. This will bring together two major players in the global snack food industry, creating a formidable portfolio of beloved brands.

Market Impact

The acquisition is expected to have a significant impact on the global snack food market. Mars' strong presence in confectionery will be complemented by Kellanova's expertise in savory snacks, creating a comprehensive offering for consumers worldwide.

Family-Owned Legacy

Mars, Inc. remains a family-owned business, with its roots dating back nearly a century. Kellanova, founded in 1966, has also maintained a strong commitment to family values throughout its history.

Conclusion

The acquisition of Kellanova by Mars is a major milestone in the snack food industry. The merged company will combine the strength and innovation of two iconic brands, creating a powerhouse in the global market.