Sweet and salty: M&M's, Snickers maker acquires Cheez-It and Pringles snack company for $36B

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Mars, 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.

M&M's maker Mars is buying Kellanova, the maker of Cheez-Its and Pop-Tarts, for nearly $30 billion, vastly expanding the number of household-name brands under one roof.Kellanova was created last year when the Kellogg Co. split into two companies. Kellanova sells many of the former company's most profitable brands, including Pringles, Eggo, Town House, MorningStar Farms and Rice Krispies Treats.

But he said he believes it will ultimately go through because there is so little overlap between the portfolios of the two companies.The acquisition would expand Mars' reach into the salty snack category. The company owns brands like Combos and Uncle Ben's, but it's primarily known for its chocolates, candies and pet food. Mars makes M&M's, Lifesavers, Juicy Fruit gum and Skittles as well as Pedigree and Royal Canin pet foods, among other products.

 

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