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

  • 📰 ABC
  • ⏱ Reading Time:
  • 39 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 51%

Article News

112830350

The deal marks the biggest buyout in the packaged food industry.

, 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.

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:

 /  🏆 471. in MY
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

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.

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.
Source: ABC7 - 🏆 67. / 68 Read more »

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 »