Mars Acquires Kellanova in Landmark $35.9 Billion Deal

The purchase expands Mars's snacking portfolio and enhances its global market reach.

Mars will pay $83.50 per share in cash for Kellanova, totaling $35.9 billion including debt.
Kellanova, formed from Kellogg's split, includes brands like Pringles, Eggo, and Cheez-It.
The combined entity will control around 8% of the U.S. snack market, just behind PepsiCo's 9%.
The deal is expected to face scrutiny from U.S. antitrust regulators due to high food prices.
Mars aims to leverage Kellanova's international footprint and integrate organizational efficiencies.