Categories: Trending now

Mars Acquiring Kellanova | Progressive Grocer

2024-08-15 14:15:02

The existing Mars portfolio includes such popular snacking and confectionery brands as M&M’s.

Family-owned Mars Inc., a global leader in pet care, snacking and food, and Kellanova, a top company in worldwide snacking, international cereal and noodles, North American plant-based foods, and frozen breakfast foods, have entered into a definitive agreement under which Mars will acquire Kellanova for $83.50 per share in cash, for a total consideration of $35.9 billion, including assumed net leverage. According to the companies, this is the largest acquisition of 2024 to date, while analysts described it as the largest CPG transaction since the merger between Kraft and H.J. Heinz in 2015. 

Comprising such famous snacking brands as Pringles, Cheez-It, Pop-Tarts, Rice Krispies Treats, NutriGrain and RXBar, as well as beloved food brands including Kellogg’s (international), Eggo and MorningStar Farms, Kellanova had 2023 net sales of more than $13 billion, with a presence in 180 markets and around 23,000 employees. Its brands complement the existing Mars portfolio, which includes such popular snacking and confectionery brands as Snickers, M&M’s, Twix, Dove and Extra, along with Kind and Nature’s Bakery. Mars also has 10 pet care brands with more than $1 billion in sales, among them Royal Canin, VCA, Pedigree, Banfield, Whiskas Bluepearl, Cesar, Sheba, Anicura and Iams. With more than 150,000 associates across its pet care, snacking and food businesses, Mars reported 2023 net sales of more than $50 billion.

“In welcoming Kellanova’s portfolio of growing global brands, we have a substantial opportunity for Mars to further develop a sustainable snacking business that is fit for the future,” noted Poul Weihrauch, CEO and office of the president of McLean, Va.-based Mars. “We will honor the heritage and innovation behind Kellanova’s incredible snacking and food brands while combining our respective strengths to deliver more choice and innovation to consumers and customers. We have tremendous respect for the storied legacy that Kellanova has built and look forward to welcoming the Kellanova team.”

[RELATED: Why Mars Wrigley Maintains a Laser Focus on Gen Z]

News Today

Recent Posts

Kareena Kapoor’s Next Untitled Film With Meghna Gulzar Gets Prithviraj Sukumaran On Board

Kareena Kapoor is working with Raazi director Meghna Gulzar for her next film. The project,…

2 weeks ago

Purdue basketball freshman Daniel Jacobsen injured vs Northern Kentucky

2024-11-09 15:00:03 WEST LAFAYETTE -- Daniel Jacobsen's second game in Purdue basketball's starting lineup lasted…

2 weeks ago

Rashida Jones honors dad Quincy Jones with heartfelt tribute: ‘He was love’

2024-11-09 14:50:03 Rashida Jones is remembering her late father, famed music producer Quincy Jones, in…

2 weeks ago

Nosferatu Screening at Apollo Theatre Shows Student Interest in Experimental Cinema – The Oberlin Review

2024-11-09 14:40:03 A silent German expressionist film about vampires accompanied by Radiohead’s music — what…

2 weeks ago

What Are Adaptogens? Find Out How These 3 Herbs May Help You Tackle Stress Head-On

Let's face it - life can be downright stressful! With everything moving at breakneck speed,…

2 weeks ago

The new Mac Mini takes a small step towards upgradeable storage

Apple’s redesigned Mac Mini M4 has ditched the previous M2 machine’s SSD that was soldered…

2 weeks ago