Mars in Advanced Talks to Acquire $22 Billion Kellanova in One of the Biggest Deals

Aug 5, 2024, 02:19 AM

Family-owned food giant Mars, known for its candy brands such as Snickers and M&M's, is exploring a potential acquisition of Kellanova, a leading snack company. Kellanova, which was spun off from Kellogg Co, produces well-known snacks such as Cheez-It, Pringles, and Eggo. The deal, if finalized, could be one of the biggest transactions in the packaged food sector this year. Sources indicate that Mars is in advanced talks to acquire Kellanova, which is valued at approximately $22 billion. Kellanova shares have surged following reports of the potential acquisition. Reuters reports that this could be one of the biggest deals ever in the packaged food sector.