Https Www Toledoblade Com Business Retail 2024 08 14 Mars Kellanova 30 Billion Deal M M S Snickers Cheez It Pringles Pop Tarts Stories 20240814144
Mars to Acquire Kellogg for Nearly $29 Billion
A Major Deal in the Snack Food Industry
Mars, the company behind M&M's and Snickers, has agreed to acquire Kellogg, the maker of Cheez-It and Pringles, in a deal valued at almost $29 billion.
The deal, announced on August 14, 2024, will give Mars access to a portfolio of iconic snack brands, including Cheez-It, Pringles, and Pop-Tarts. Mars, which is privately held, is based in McLean, Virginia, while Kellogg is based in Chicago, Illinois.
The acquisition is expected to close in the second half of 2024, subject to regulatory approvals and other customary closing conditions. The combined company will have annual sales of approximately $45 billion, making it one of the largest snack food companies in the world.
The deal is a major win for Mars, which will gain a significant foothold in the snack food market. Kellogg, which has been facing challenges in recent years, will benefit from the resources and expertise of Mars.
Https Www Bostonglobe Com 2024 08 14 Business Mars Acquiring Kellanova
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