Mars nears $30B all-cash acquisition of Kellanova for diversification amid rising cocoa prices.
Mars, the family-owned candy giant behind M&M's and Snickers, is reportedly nearing an $83.50 per share, $30 billion all-cash deal to acquire Kellanova, makers of snacks like Cheez-It and Pringles. The deal aims to diversify Mars' portfolio beyond its core chocolate business amid rising cocoa prices. This would be Mars' largest acquisition, surpassing its $23 billion takeover of Wrigley in 2008. The announcement is set for Wednesday.
August 13, 2024
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