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- Mars Acquires Kellanova for $35.9 Billion to Expand Global Snacking Empire
Mars Acquires Kellanova for $35.9 Billion to Expand Global Snacking Empire
Slice of Manufacturing Team
August 19, 2024
Key Highlights:
Acquisition includes iconic brands like Pringles®, Cheez-It®, and RXBAR®.
Transaction represents a 44% premium to Kellanova’s 30-day average price.
Kellanova brings $13 billion in sales and presence in 180 markets.
Acquisition expected to close in the first half of 2025.
Source (Business Wire)
Notable Quotes:
“In welcoming Kellanova’s portfolio of growing global brands, we have a substantial opportunity for Mars to further develop a sustainable snacking business that is fit for the future.”
“This is a truly historic combination with a compelling cultural and strategic fit.”
“This is an exciting opportunity to create a broader, global snacking business, allowing Kellanova and Mars Snacking to both achieve their full potential.”
Our Take:
Mars’ acquisition of Kellanova is a strategic move that significantly strengthens its position in the global snacking market. By integrating Kellanova's iconic brands, Mars not only diversifies its product offerings but also gains a deeper foothold in emerging markets. This acquisition aligns with global consumer trends towards convenient and better-for-you snacking options, positioning Mars to capitalize on evolving consumer preferences. The transaction's valuation, reflecting a substantial premium, underscores the high strategic value Mars places on Kellanova’s assets, signaling confidence in the growth potential of the combined entity.