Mars to acquire Kellanova

Mars and Kellanova 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 $35.9 billion, including assumed net leverage.

Legacy of quality and innovation 

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. With roots dating back more than 100 years, Kellanova has a rich legacy of quality and innovation. Kellanova had 2023 Net Sales of more than $13 billion, with a presence in 180 markets and approximately 23,000 employees.

Complementing the portfolio

Kellanova’s portfolio complements the existing Mars portfolio, which includes billion-dollar snacking and confectionery brands like SNICKERS, M&M’S, TWIX, DOVE and EXTRA, as well as KIND and Nature’s Bakery. Mars also has 10 pet care brands with over $1 billion in sales, including ROYAL CANIN, VCA, PEDIGREE, BANFIELD, WHISKAS, BLUEPEARL, CESAR, SHEBA, ANICURA and IAMS. With more than 150,000 Associates across its Petcare, Snacking and Food businesses, Mars had 2023 Net Sales of more than $50 billion.

Source: https://www.mars.com/news-and-stories/press-releases-statements/mars-acquisition-august-2024