The Trader Harbor
  • Business
  • Politics
  • World News
  • Stocks
  • Business
  • Politics
  • World News
  • Stocks

The Trader Harbor

World News

Mars to acquire snack maker Kellanova in $36 billion deal

by admin August 15, 2024
August 15, 2024
Mars to acquire snack maker Kellanova in $36 billion deal

Mars will acquire Kellanova for $35.9 billion in cash, tying together some of the largest U.S. candy and snack brands, the companies announced Tuesday.

The M&M owner Mars is acquiring the Kellogg spin-off company for $83.50 per share, according to the press release. The addition of Kellanova, which separated from its parent company in 2023, will bring massive brands like Pringles and Cheez-Its to Mars’ snacking unit.

“Kellanova has been on a transformation journey to become the world’s best snacking company, and this opportunity to join Mars enables us to accelerate the realization of our full potential and our vision,” said Steve Cahillane, chairman, president and CEO of Kellanova, in a statement.

The move comes after Kellogg separated its business last year, with its cereal segment trading under WK Kellogg Co, and the remaining snacking and plant-based brands under Kellanova. Kellanova’s 2023 net sales topped $13 billion.

After years of high inflation, some consumers are pulling back on spending and struggling to afford brand-name snacks, making acquisitions more attractive. Many grocers have leaned into private-label options to entice consumers who are looking for value.

Mars’ buyout aims to create a “broader, global snacking business” through recognized and popular brands, according to Andrew Clarke, global president of Mars Snacking.

“The Kellanova brands significantly expand our Snacking platform, allowing us to even more effectively meet consumer needs and drive profitable business growth,” Clarke said in a statement.

The growing snacking category includes brands marketed as healthier. Kellanova will bring products like RXBAR and Nutri-Grain to the Mars business, complementing KIND and other Mars snacks, according to the release.

The transaction is expected to close in the first half of 2025, according to the release.

This post appeared first on NBC NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
Google launches first AI-powered Android update and new Pixel 9 phones
next post
Starbucks is giving incoming CEO Brian Niccol $85 million in cash and stock as he departs Chipotle

Related Posts

Apple releases first preview of its long-awaited iPhone...

July 30, 2024

Dow tumbles 475 points, S&P 500 suffers worst...

April 16, 2024

McDonald’s says $5 value meal sales are hot...

July 31, 2024

Apple reveals complex system of App Store fees...

June 30, 2025

Social Security Administration to remove food assistance as...

March 29, 2024

Ulta Beauty CEO outlines plans to boost sales...

June 2, 2024

Disneyland characters and cast members attempt to unionize

April 19, 2024

Klarna, nearing IPO, plucks lucrative Walmart fintech partnership...

March 19, 2025

Darden Restaurants sales disappoint as Olive Garden, LongHorn...

March 21, 2025

Wendy’s will offer $3 breakfast deal as rivals...

May 21, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • Bed Bath & Beyond relaunches with first store in Nashville, plans dozens more

      August 10, 2025
    • The Real Drivers of This Market: AI, Semis & Robotics

      August 10, 2025
    • S&P 500 Breaking Out Again: What This Means for Your Portfolio

      August 10, 2025
    • Sydney Sweeney jeans controversy making advertising great again

      August 10, 2025
    • Nagasaki mayor issues chilling warning on 80th anniversary of atomic bombing

      August 10, 2025
    • Kash Patel celebrates major FBI achievements and record seizures during Trump’s first 200 days in office

      August 10, 2025

    Categories

    • Business (1,330)
    • Politics (4,206)
    • Stocks (1,577)
    • Uncategorized (45)
    • World News (1,323)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: TheTraderHarbor, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 thetraderharbor.com | All Rights Reserved