Mars, company that makes M&M’s, to buy out Pringles’ parent Kellanova for nearly 36B dollar deal
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The family company plans to break a record, making an unprecedented purchase of nearly $36B to Pringles and Cheez-It’s parent company, Kellanova. The candy giant is to pay $83.50 per share in cash. Based on the official report, Kellanova’s shares rose approximately eight per cent, its equity value at $28.58 billion. According to Reuters, this move would be the biggest deal in the package food sector.
Moving forward, Kellanova will become part of Mars Snacking led by the buying company’s Global President Andrew Clarke in Chicago, Illinois, in the first half of 2025 after the deal’s completion.
