Two iconic businesses are set to combine, with Mars announcing it has entered into agreement to acquire Kellanova for nearly $US36 billion.
Kellanova’s portfolio, including brands such as Pringles and LCMs, complements the existing Mars portfolio, which includes billion-dollar snacking and confectionery brands like Snickers, M&M’s, Twix, Dove and Extra.
Upon completion of the transaction, Kellanova will become part of Mars Snacking, led by Global President Andrew Clarke, allowing Mars to bring even more beloved brands to more consumers globally.
“This is an exciting opportunity to create a broader, global snacking business, allowing Kellanova and Mars Snacking to both achieve their full potential,” said Andrew Clarke, Global President of Mars Snacking.
“Kellanova and Mars share long histories of building globally recognised and beloved brands. The Kellanova brands significantly expand our snacking platform, allowing us to even more effectively meet consumer needs and drive profitable business growth. Our complementary portfolios, routes-to-market and R&D capabilities will unleash enhanced consumer-centric innovation to shape the future of responsible snacking.”
Mars intends to apply its proven brand-building approach to further nurture and grow Kellanova’s brands, including accelerating innovation to meet evolving consumer tastes and preferences, investing locally to expand reach and introducing more better-for-you nutrition options to meet evolving consumer needs.
