Makers of Snickers and Pringles to merge in $36 billion food deal

Mars, the parent company of M&M's and Snickers, has reached an agreement to purchase Kellanova, the snack food division that Kellogg’s spun off last year, in a multibillion-dollar transaction that will form a major new global food powerhouse.

Announced on Wednesday, the acquisition is one of the largest in the food industry in recent years, valuing Kellanova at close to $36 billion, including debt—a significant premium over its share price prior to the initial rumors of the deal.

Kellanova's brand portfolio includes well-known names like Cheez-It, Pringles, and Eggo.

LISTEN on the Audacy App
Tell your Smart Speaker to "PLAY 1080 KRLD"
Sign Up to receive our KRLD Insider Newsletter for more news
Follow us on Facebook | Twitter | Instagram | YouTube