Mars to acquire Kellanova for $35.9b

The acquisition will enhance Mars' existing portfolio.

Mars Incorporated has agreed to acquire Kellanova for $83.50 per share in a cash.

The deal, valued at $35.9 billion including assumed net leverage, represents a premium of approximately 44% over Kellanova’s unaffected 30-day volume-weighted average price and a 33% premium over its unaffected 52-week high as of 2 August. The transaction equates to an acquisition multiple of 16.4 times Kellanova’s last twelve months adjusted EBITDA as of 29 June 29.

Kellanova, known for its iconic snacking brands such as Pringles, Cheez-It, Pop-Tarts, Rice Krispies Treats, NutriGrain, also boasts a robust portfolio of food brands including Kellogg’s (international), Eggo, and MorningStar Farms. With over 100 years of history, Kellanova generated net sales exceeding $13b in 2023 and operates in 180 markets with approximately 23,000 employees.

The acquisition will enhance Mars' existing portfolio, which includes billion-dollar brands like SNICKERS, M&M’S, TWIX, and DOVE. Mars, with over 150,000 employees across its petcare, snacking, and food divisions, reported net sales of more than $50b in 2023.

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit