“In welcoming Kellanova’s portfolio of growing global brands, we have a substantial opportunity for Mars to further develop a sustainable snacking business that is fit for the future,” said Mars CEO Poul Weihrauch. He emphasized that the company will honor the heritage and innovation behind Kellanova’s iconic brands while enhancing consumer choices and innovation.
Mars to acquire Kellanova in $36B deal : Strategic Fit and Future Growth
The agreement, unanimously approved by Kellanova’s board, signals a strong cultural and strategic alignment between the two companies. Mars’ acquisition includes all of Kellanova’s brands, assets, and operations, encompassing snacking brands, cereals, plant-based foods, and frozen breakfasts.
Steve Cahillane, Kellanova’s chair, president, and CEO, expressed excitement about the deal, calling it a historic combination. “Kellanova has been on a transformation journey to become the world’s best snacking company, and this opportunity to join Mars enables us to accelerate the realization of our full potential and our vision,” Cahillane said.
