Sightful Invest
  • Business
  • Investing
  • Politics
  • Stock
Top Posts
Starmer says UK to recognize Palestinian state if...
‘Critical’ closed-door congressional huddle focuses on growing antisemitism...
Trump’s CDC pick confirmed—but her pro-vaccine stance may...
Trump pick Emil Bove confirmed as federal judge...
From Gaza to Greenland, Macron breaks with Trump...
Schumer calls on FBI to conduct counterintelligence threat...
Biden ‘Politburo’ member Steve Ricchetti to appear before...
Trump looks to skip G20 summit in South...
Backlash against Sydney Sweeney ‘jeans/genes’ ad gets mocked...
Biden ‘Politburo’ member Steve Ricchetti appears before House...
  • Business
  • Investing
  • Politics
  • Stock

Sightful Invest

Business

Mars to acquire snack maker Kellanova in $36 billion deal

by admin August 15, 2024
August 15, 2024
Mars to acquire snack maker Kellanova in $36 billion deal

Mars will acquire Kellanova for $35.9 billion in cash, tying together some of the largest U.S. candy and snack brands, the companies announced Tuesday.

The M&M owner Mars is acquiring the Kellogg spin-off company for $83.50 per share, according to the press release. The addition of Kellanova, which separated from its parent company in 2023, will bring massive brands like Pringles and Cheez-Its to Mars’ snacking unit.

“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,” said Steve Cahillane, chairman, president and CEO of Kellanova, in a statement.

The move comes after Kellogg separated its business last year, with its cereal segment trading under WK Kellogg Co, and the remaining snacking and plant-based brands under Kellanova. Kellanova’s 2023 net sales topped $13 billion.

After years of high inflation, some consumers are pulling back on spending and struggling to afford brand-name snacks, making acquisitions more attractive. Many grocers have leaned into private-label options to entice consumers who are looking for value.

Mars’ buyout aims to create a “broader, global snacking business” through recognized and popular brands, according to Andrew Clarke, global president of Mars Snacking.

“The Kellanova brands significantly expand our Snacking platform, allowing us to even more effectively meet consumer needs and drive profitable business growth,” Clarke said in a statement.

The growing snacking category includes brands marketed as healthier. Kellanova will bring products like RXBAR and Nutri-Grain to the Mars business, complementing KIND and other Mars snacks, according to the release.

The transaction is expected to close in the first half of 2025, according to the release.

This post appeared first on NBC NEWS

previous post
Why Wall Street thinks Brian Niccol is the person to revive Starbucks — and end the Howard Schultz era
next post
Inside Billionaire Gina Rinehart’s Key Mining Investments

You may also like

Federal judge overturns $4.7 billion jury verdict in...

August 3, 2024

CFPB expands oversight of digital payments services including...

November 23, 2024

NBA star Russell Westbrook launches AI-enabled funeral planning...

May 8, 2025

Amazon set to pass Walmart in revenue for...

February 7, 2025

Goldman Sachs rolls out an AI assistant for...

January 23, 2025

Tesla’s robotaxi launch in tech-friendly Austin has Musk...

June 4, 2025

Target says its holiday sales were better than...

January 17, 2025

How crazy popcorn buckets became big business for...

February 20, 2025

Biden administration seeks to avoid default crisis for...

January 17, 2025

In federal trial, Michael Kors says it’s harder...

September 18, 2024

Recent Posts

  • Starmer says UK to recognize Palestinian state if Israel doesn’t agree to ceasefire, Hamas must ‘disarm’
  • ‘Critical’ closed-door congressional huddle focuses on growing antisemitism in US, Mamdani’s rise
  • Trump’s CDC pick confirmed—but her pro-vaccine stance may clash with RFK Jr.’s agenda
  • Trump pick Emil Bove confirmed as federal judge after furious Democrat walkout, whistleblower complaints
  • From Gaza to Greenland, Macron breaks with Trump on global flashpoints

    Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (845)
    • Investing (2,651)
    • Politics (3,267)
    • Stock (4)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sightfulinvest.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 Sightful Invest. All Rights Reserved.