Mars to Acquire Kellanova for Nearly $36 Billion

Aug 14, 2024, 11:01 AM

Mars, the family-owned candy giant known for brands like M&M's and Snickers, has announced a significant acquisition of Kellanova, a company famous for its snack brands such as Pringles, Cheez-It, and Eggo. The deal, valued at nearly $36 billion, is set to be one of the largest in the food industry this year. Mars will pay $83.50 per share for Kellanova in an all-cash transaction. This acquisition will expand Mars' portfolio, bringing together two major food companies and creating a formidable global powerhouse of consumer brands.