Mars, maker of M&M’s and Snickers, to buy Cheez-It owner Kellanova for nearly $30 billion
By MICHELLE CHAPMAN
Mars, whose brands include M&M’s, Snickers and Skittles, is buying food company Kellanova in a deal worth nearly $30 billion, giving it access to a huge portfolio of consumer brands from Cheez-Its to Pop-Tarts.
Kellanova was created when the Kellogg Co., which was formed in 1906, split into three companies. Kellanova, based in Chicago, houses many brands, including Pringles, Town House, MorningStar Farms and Rice Crispies Treats. It had net sales of more than $13 billion last year.
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.
More Stories
Stocks slip on Wall Street as 2025 winds down
By DAMIAN J. TROISE, Associated Press Business Writer NEW YORK (AP) — Stocks slipped in morning trading on Wall Street...
Stocks slip on Wall Street as 2025 winds down
By DAMIAN J. TROISE, Associated Press Business Writer NEW YORK (AP) — Stocks slipped in morning trading on Wall Street...
China stages military drills around Taiwan to warn ‘external forces’ after US, Japan tensions
By KANIS LEUNG, Associated Press HONG KONG (AP) — China’s military on Monday dispatched air, navy and missile units to...
China stages military drills around Taiwan to warn ‘external forces’ after US, Japan tensions
By KANIS LEUNG, Associated Press HONG KONG (AP) — China’s military on Monday dispatched air, navy and missile units to...
Winter storm brings blizzard conditions and dangerous wind chills
By LEAH WILLINGHAM and JEFF MARTIN, Associated Press A potent winter storm threatened blizzard-like conditions, treacherous travel and power outages in parts...
Winter storm brings blizzard conditions and dangerous wind chills
By LEAH WILLINGHAM and JEFF MARTIN, Associated Press A potent winter storm threatened blizzard-like conditions, treacherous travel and power outages in parts...