Mars Agrees to $36 Billion Acquisition of Kellanova
Mars, the multinational conglomerate known for its wide range of products from chocolate to pet food, has finalized a $36 billion deal to acquire Kellanova, the company famous for producing Pringles among other snacks. This announcement was made on Wednesday and marks the largest acquisition in Mars’ history, significantly surpassing the $23 billion purchase of Wrigley, the gum manufacturer, in 2008.
The acquisition may come under scrutiny from U.S. regulatory authorities focused on competition, as Mars already owns well-known consumer brands such as Mars, Twix, Bounty, and Milky Way. With the addition of Kellanova’s Pringles, Special K cereals, and Carr’s crackers, the combined portfolio will further consolidate the market.
However, analysts suggest that the limited overlap between the products of the two companies indicates that the deal is likely to receive regulatory approval.
