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Mars to acquire Pop Tarts, Pringles maker Kellanova in $36B deal

By: FOX Business

August 14, 2024 at 11:27 AM EDT

The move to acquire Kellanova will help Mars lean further into the snacking category as it seeks to "double Mars Snacking in the next decade," the company said.

Mars Inc. announced Wednesday that it will acquire snack maker Kellanova in a deal valued at $35.9 billion.

Mars, the company housing brands like Snickers, Pedigree, M&M’s and Twix, said the deal it reached with Kellanova will involve paying $83.50 per share.

The move will help Mars lean further into the snacking category as it seeks to "double Mars Snacking in the next decade," the company said.

The transaction is expected to close in the first six months of 2025.

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