Mars is acquiring Kellanova for $83.50 per share. The deal is expected to close in the first half of 2025.
Mars is a leading global manufacturer of confectionery, pet food, and other food products. Kellanova is a leading manufacturer of snacks and other food products.
The deal will bring together some of the largest U.S. candy and snack brands, including M&Ms, Snickers, Skittles, Pringles, and Cheez-Its.
The deal will create a "broader, global snacking business" through recognized and popular brands. It will also allow Mars to better compete with other snacking giants, such as PepsiCo and Mondelez.
The deal is expected to close in the first half of 2025. Once the deal is closed, Mars will be the world's largest candy and snack company.
The deal will benefit both Mars and Kellanova. Mars will gain access to Kellanova's strong portfolio of brands, while Kellanova will benefit from Mars's global reach and resources.
The deal is facing some challenges, including regulatory approval and the potential for antitrust concerns.
The deal is a major win for both Mars and Kellanova. It will create a stronger, more competitive company that is well-positioned for growth in the years to come.