Mars shakes up snack industry with $36B food merger to acquire Pringles maker

, M&M's maker Mars is spending big bucks on a new acquisition to gain even more shelf space in the snack aisle.

"Mars will acquire all outstanding equity of Kellanova for $83.50 per share in cash," the release stated. "All of Kellanova's brands, assets and operations, including its snacking brands, portfolio of international cereal and noodles, North American plant-based foods and frozen breakfast are included in the transaction."

Privately owned Mars, which also has a pet food and veterinary care arm in addition to its confectionery business, previously expanded its scope beyond sweets when it bought healthy snack brand KIND North America for $5 billion in 2020.Poul Weihrauch, CEO of Mars, Inc. called the forthcoming deal "a substantial opportunity for Mars to further develop a sustainable snacking business that is fit for the future.

Argentina Últimas Noticias, Argentina Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Mars set to shake up snack industry with $36B acquisition of Pringles makerMars is acquiring Kellanova in one of the largest deals in the industry in years, creating a new global giant with a stable of well-known brands.
Fuente: ABC7 - 🏆 67. / 68 Leer más »

Sweet and salty: M&M's, Snickers maker acquires Cheez-It and Pringles snack company for $36BMars, whose brands include M&M's, Snickers and Skittles, is buying food company Kellanova in a nearly $30 billion deal, giving it access to brands such as Cheez-It, Eggo and Pop-Tarts.
Fuente: 10News - 🏆 732. / 50 Leer más »