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Mars to Acquire Kellanova

Industry Giants Merge, Uniting Beloved Brands

Transaction Expands Reach and Portfolio

Mars, Inc., the global confectionary leader known for brands such as Snickers, Twix, and M&M's, has announced an agreement to acquire the Kellanova K company, maker of the iconic Pringles potato chips, for $36 billion. This transformative transaction unites two industry giants with complementary footprints and portfolios, creating a formidable force in the consumer packaged goods market.

With this acquisition, Mars further strengthens its position as the world's leading manufacturer of chocolate, chewing gum, mints, and fruity confections. Kellanova K, in turn, brings its strong presence in the salty snack category, particularly in the global potato chip market. Together, the combined company will offer a diverse range of products and brands that cater to the evolving tastes and preferences of consumers worldwide.

Commenting on the deal, Mars President and CEO Grant Reid said, “This acquisition is a strategic move that aligns with our vision of becoming a global leader in snacking. Kellanova K has a rich heritage of iconic brands and a talented team that shares our commitment to customer satisfaction and innovation.” Kellanova K CEO Todd Sisitsky added, “We are thrilled to join the Mars family and believe that together, we can create even greater value for our customers and consumers.”

The transaction, which is subject to regulatory approvals, is expected to close in the second half of 2023. It is expected to have a significant impact on the consumer packaged goods industry, reshaping the competitive landscape and offering consumers a broader selection of high-quality products from trusted brands.