Mars is acquiring Kellanova for nearly $30 billion, significantly expanding its portfolio with popular brands like Cheez-It and Pop-Tarts, enhancing its position in the snacking sector.
The deal, valued at approximately $35.9 billion, is projected to be completed in the first half of next year, with Kellanova continuing operations in Chicago.
Andrew Clarke, global president of Mars Snacking, stated, "The Kellanova brands significantly expand our snacking platform, allowing us to even more effectively meet consumer needs and drive profitable business growth."
Kellanova generated over $13 billion in net sales last year and employs around 23,000 people, making it a robust addition to Mars' diverse brand portfolio.
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