Are you a snacking enthusiast? Well, get ready for some exciting news in the world of snacks! Mars, the company behind M&M’s, is set to acquire Kellanova for a whopping $35.9 billion in cash. This acquisition will bring together some of the biggest U.S. candy and snack brands under one roof.
Kellanova, which separated from its parent company in 2023, is known for brands like Pringles and Cheez-Its. With this acquisition, Mars aims to create a “broader, global snacking business” through recognized and popular brands. The addition of Kellanova’s products like RXBar and Nutri-Grain will complement Mars’ existing snacks like Kind bars.
But this acquisition is not without its challenges. Consumer advocacy group Food & Water Watch has expressed concerns about the deal, citing potential antitrust issues. However, Kellanova CEO Steve Cahillane and Mars CEO Poul Weihrauch are confident that the brands are complementary, and they will work with regulators to address any concerns.
The transaction is expected to close in the first half of 2025, marking a significant milestone in the snacking industry. Stay tuned for more updates on this exciting development and how it will shape the future of the snacking market.
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