Mars Inc. Acquires Kellanova, Expanding Snacking Empire

Mars Inc., the maker of M&M's, is purchasing Kellanova, known for Cheez-Its and Pop-Tarts, for nearly $30 billion. This acquisition will significantly expand Mars' portfolio of household-name brands, integrating Kellanova's popular products into Mars Snacking. The deal, expected to close next year, highlights Mars' strategy to diversify its offerings.

Mars Inc., the company behind M&M's, is set to acquire Kellanova, the maker of Cheez-Its and Pop-Tarts, for nearly $30 billion. This strategic move will bring a host of well-known brands under Mars' umbrella, further establishing its dominance in the snacking industry.

Kellanova, which emerged from the Kellogg Co. split last year, boasts popular brands like Pringles and Rice Krispies Treats. With net sales exceeding $13 billion and a workforce of around 23,000 employees, Kellanova's integration into Mars Snacking is anticipated to drive significant growth.

The transaction, valued at $35.9 billion including debt, is one of the largest deals of 2024. Mars' acquisition of Kellanova is expected to close in the first half of next year, marking a pivotal expansion in Mars' snacking portfolio.

(With inputs from agencies.)