Mars Inc., known for brands like M&M’s and Snickers, is acquiring food company Kellanova in a deal valued at nearly $30 billion. Kellanova, formed from the split of Kellogg Co. last year, boasts popular brands like Pringles and Town House. The acquisition will expand Mars’ snacking platform and enhance its ability to meet consumer needs. The deal is expected to close in the first half of next year, with Kellanova becoming a part of Mars Snacking while remaining based in Chicago. The acquisition comes amidst a time of rising prices and consumer pressure to keep prices in check. Shares of Kellanova rose nearly 8% following the announcement of the acquisition.
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Mars, known for M&M’s and Snickers, to acquire Kellanova, owner of Cheez-It, in a deal worth close to $30 billion
