Mars Inc. has completed its acquisition of food manufacturing company Kellanova. The deal was first announced in August 2024.
“Today marks a transformative moment and I’m excited to welcome Kellanova to Mars,” said Andrew Clarke, global president of Mars Snacking. “United by more than a century of pioneering new categories and building iconic brands, Mars and Kellanova are joining forces to shape the future of snacking. With more than 50,000 Mars Snacking Associates and partners around the world, we’re now positioned to bring consumers more of the brands they love and new innovations—while continuing to advance our sustainability commitments and invest for the long term.”
Kellanova brands, including Pringles, Rice Krispies Treats, Pop-Tarts and Cheez-Its, will fall under the Mars Snacking umbrella, along with Mars candy brands such as M&Ms, Skittles, Snickers and Twix. The acquisition will also expand the Accelerator portfolio, a division of Mars Snacking, with the brands RxBar, Nutri-Grain bars and Special K bars.
In 2024, the New York Times reported that the acquisition of Kellanova would be one of the largest food deals in years. It valued Kellanova at $35.9 billion, including debt. Mars had said it has agreed to pay $83.50 per share for Kellanova in the all-cash deal.
Steve Cahillane, chairman, president and CEO of Kellanova, said at the time: “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.”