Mars to aquire Kellogg’s-owner Kellanova
Transaction unites two iconic businesses with complementary footprints and portfolios of beloved brands
Print20 August 2024
Mars has announced that it has acquired Kellanova.
Kellanova is home to iconic snacking brands including Pringles, Cheez-It, Pop-Tarts, Rice Krispies Treats, NutriGrain, as well as cherished food brands including Kellogg’s.
According to the confectionery giant, Kellanova’s portfolio ‘complements the existing Mars portfolio, which includes billion-dollar brands such as M&M’s, Snickers and Twix.
In a statement, Poul Weihrauch, CEO and Office of the president of Mars, Incorporated, said: “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.
“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.”
Steve Cahillane, chairman, president and CEO of Kellanova, added: “This is a truly historic combination with a compelling cultural and strategic fit.
“Kellanova has been on a transformation journey to become the world’s best snacking company, and this opportunity to join Mars enables us to accelerate the realization of our full potential and our vision.
“The transaction maximizes shareholder value through an all-cash transaction at an attractive purchase price and creates new and exciting opportunities for our employees, customers, and suppliers.”
‘Attractive and durable category’
Mars noted that, snacking is a large, attractive and durable category that continues to grow in importance with consumers. Upon completion of the transaction, Kellanova will become part of Mars Snacking, led by Global President Andrew Clarke and headquartered in Chicago.
Andrew Clarke, global president of Mars Snacking, commented: “This is an exciting opportunity to create a broader, global snacking business, allowing Kellanova and Mars Snacking to both achieve their full potential.
“Kellanova and Mars share long histories of building globally recognized and beloved brands. The Kellanova brands significantly expand our Snacking platform, allowing us to even more effectively meet consumer needs and drive profitable business growth.
“Our complementary portfolios, routes-to-market and R&D capabilities will unleash enhanced consumer-centric innovation to shape the future of responsible snacking.”
Read more: Mars launches M&M’S minis cookies
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