Family-owned food giant Mars Incorporated announced on 11 December that it has finalised its US$35.9 billion acquisition of Kellanova, a leading producer of snacks, cereals and plant-based foods.
The merger combines two of the world’s most recognised food companies, bringing together their brands in a bid to drive the evolution of the snacking sector.
Mars Snacking Global President Andrew Clarke said: “Today marks a transformative moment and I’m excited to welcome Kellanova to Mars. United by more than a century of pioneering new categories and building iconic brands, Mars and Kellanova are joining forces to shape the future of snacking.
“With more than 50,000 Mars Snacking associates and partners around the world, we’re now positioned to bring consumers more of the brands they love and new innovations – while continuing to advance our sustainability commitments and invest for the long term.”
Mars Snacking’s portfolio will expand with the addition of Kellanova’s billion-dollar brands, including Pringles, Cheez-It and Kellogg’s, alongside Mars’ existing lineup of leading snacking and confectionery brands such as Snickers, M&M’s, Twix, Dove, Skittles, Extra, Kind and Nature’s Bakery.
Kellanova also complements the Accelerator division with complementary offerings such as Rxbar, Nutri-Grain bars and Special K bars.
Under the combined entity, both companies aim to accelerate growth by reinforcing their presence in high-growth snacking categories and regions, driving stronger momentum across the sector.
A broader snacking portfolio is among their priorities, spanning the industry from traditional confectionery to a full range of snacking products.
The combined portfolio will feature up to 18 US$1 billion brands.
The unified entity extends Mars’ footprint in rapid growth markets, with complementary regional presence (Kellanova in Africa, Mars in China) and delivering a twofold to threefold increase in key emerging markets (Mexico, Brazil and India) compared with Mars’ existing operations.
Mars Snacking VP Global R&D, Sustainability and Commercial Amanda Davies said: “I’m passionate about the power of partnerships and three enabling capabilities that drive them: strategic intimacy, risk appetite and collaborative advantage.
“These are essential as we strive to make a bigger impact on our collective goals. Together, we can bring these to life across innovation, decarbonisation and value creation.”
The deal was announced in August 2024, with Mars agreeing to acquire Kellanova under a definitive agreement. Kellanova’s shareholders approved the transaction on 1 November 2024, and all regulatory approvals were completed as of 8 December. ✈
