Image: Kellanova
Image: Kellanova
14/08/2024 | International

Mars to acquire Kellanova

Mars, Inc. and Kellanova, a leading company in global snacking, international cereal and noodles, North American plant-based foods and frozen breakfast foods, have announced that they have entered into a definitive agreement under which Mars has agreed to acquire Kellanova for $83.50 per share in cash, for a total consideration of USD 35.9 bn, including assumed net leverage.
 

Kellanova is home to iconic snacking brands including Pringles, Cheez-It, Pop-Tarts, Rice Krispies Treats, NutriGrain®and RXBAR, as well as cherished food brands including Kellogg’s (international), Eggo and MorningStar Farms. Kellanova had 2023 net sales of more than USD 13 bn, with a presence in 180 markets and approximately 23,000 employees. Kellanova’s portfolio complements the existing Mars portfolio, which includes billion-dollar snacking and confectionery brands. With more than 150,000 Associates across its Petcare, Snacking and Food businesses, Mars had 2023 net sales of more than USD 50 bn.

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