Mars set to shake up snack industry with $36B acquisition of Pringles maker

  • 📰 ABC7
  • ⏱ Reading Time:
  • 43 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 68%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Mars 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.

, 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. "We will honor the heritage and innovation behind Kellanova's incredible snacking and food brands while combining our respective strengths to deliver more choice and innovation to consumers and customers," his statement continued.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 67. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

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.
Source: 10News - 🏆 732. / 50 Read more »