Mars, 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
Mars, 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-TartsFILE - In this April 5, 2011 file photo, Pringles chips are seen in a posed photo at a West Bath, Maine grocery store.
Mars Inc. said Wednesday that it will pay $83.50 per share in cash. The company put the total value of the transaction at $35.9 billion. The deal is expected to close in the first half of next year. Once it is complete, Kellanova will become part of Mars Snacking. It will remain based in Chicago. “The Kellanova brands significantly expand our snacking platform, allowing us to even more effectively meet consumer needs and drive profitable business growth,” Andrew Clarke, global president of Mars Snacking, said in a statement.to put a cap on prices. Economists say that many consumers appear to be returning to pre-pandemic norms, when most companies felt they couldn’t raise prices very much without losing business.
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