• About us
  • Contact us
  • Privacy Policy
  • Terms & Conditions
Fund Fluxes
Advertisement
  • Business
  • investing
  • Politics
  • Stocks
No Result
View All Result
  • Business
  • investing
  • Politics
  • Stocks
No Result
View All Result
Fund Fluxes
No Result
View All Result
Home Business

Mars to acquire snack maker Kellanova in $36 billion deal

August 15, 2024
in Business
0
Mars to acquire snack maker Kellanova in $36 billion deal
0
SHARES
4
VIEWS
Share on FacebookShare on Twitter

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

Previous Post

Why Wall Street thinks Brian Niccol is the person to revive Starbucks — and end the Howard Schultz era

Next Post

Starbucks CEO is out after just over a year, replaced by Chipotle’s CEO

Next Post
Starbucks CEO is out after just over a year, replaced by Chipotle’s CEO

Starbucks CEO is out after just over a year, replaced by Chipotle’s CEO

    Sign up for our newsletter to receive the latest insights, updates, and exclusive content straight to your inbox! Whether it's industry news, expert advice, or inspiring stories, we bring you valuable information that you won't find anywhere else. Stay connected with us!


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

    Recent News

    The Best Five Sectors, #22

    The Best Five Sectors, #22

    June 10, 2025
    A Few Charts Worth Watching This Week

    A Few Charts Worth Watching This Week

    June 10, 2025
    5 terrifying flashpoints that could ignite global war

    5 terrifying flashpoints that could ignite global war

    June 10, 2025
    Trump’s spending bill heads to Senate where Republicans plan strategic adjustments to key provisions

    Trump’s spending bill heads to Senate where Republicans plan strategic adjustments to key provisions

    June 10, 2025

    Disclaimer: fundfluxes.com, 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 © 2024 fundfluxes.com | All Rights Reserved

    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Recent News

    The Best Five Sectors, #22

    The Best Five Sectors, #22

    June 10, 2025
    A Few Charts Worth Watching This Week

    A Few Charts Worth Watching This Week

    June 10, 2025
    5 terrifying flashpoints that could ignite global war

    5 terrifying flashpoints that could ignite global war

    June 10, 2025
    No Result
    View All Result
    • Business
    • investing
    • Politics
    • Stocks

    Copyright © 2024 pinnacleofinvestment.com | All Rights Reserved