Mars Is Acquiring Pringles’ Parent Company in a $36 Billion Deal — Here’s What That Means for You
Eyes in the food world widened this week with a big merger that links two major players in the world of candy and snacks.
Mars, best known as the maker of M&Ms, Snickers, and its eponymous candy bar, agreed to buy Kellanova, whose crunchy lineup includes Pringles and Cheez-Its. Until last year, Kellanova was part of the W.K. Kellogg Company, which divided itself into two separate entities last year.
The deal was valued at $35.9 billion and in effect creates another king-sized food company with worldwide reach. Combined, they have $63 billion in revenue — $13 billion for Kellanova and $50 billion for Mars. But in food alone, they’re hardly behemoths, trailing companies like Switzerland-based Nestle, whose brands include Nesquik and Häagen Dazs, and American player PepsiCo, which owns Frito-Lay.
The deal comes just as trends in snacks are moving faster and becoming more intercontinental than ever, thanks to video platforms such as TikTok. International flavors from Asia, the Indian subcontinent, and Latin America are pushing companies to become more imaginative, says Raj Konanahalli, a partner and managing director at AlixPartners, the global analysis firm.
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