Once the deal is finalized, Kellanova will integrate into Mars Snacking, led by Global President Andrew Clarke and headquartered in Chicago.
Mars to acquire Kellanova in $36B deal : Advisors and Legal Teams
Citi is serving as the financial adviser to Mars, with Goldman Sachs and Lazard advising Kellanova and its board, respectively. The legal teams involved include a robust lineup from top firms.
The Kirkland & Ellis team advising Kellanova is led by corporate partners Eric Schiele and Allie Wein, among other specialists across various legal areas. Meanwhile, Mars is being advised by a team from Skadden Arps, including M&A partners Howard Ellin, Neil Stronski, and June Dipchand.
The W.K. Kellogg Foundation Trust and the Gund Family, representing 20.7% of Kellanova’s common stock, have agreed to vote in favor of the transaction, further cementing the deal’s path to completion.
Industry Impact
Mars’ acquisition of Kellanova for $36 billion marks one of the most significant moves in the snacking industry, potentially redefining the market landscape. As Mars expands its snacking portfolio, this deal underscores the growing demand for innovative and sustainable snack options, positioning Mars as a dominant force in the global market.
