Jamiesrabbits

Mars Reportedly Exploring Kellanova Acquisition

Aug. 5, 2024
If a deal is reached, it would be the largest acquisition by the global petcare and food company ever.

According to several news outlets, Mars is exploring the possibility of acquiring Kellanova, one of two companies formed when the former Kellogg Co. split in two in October 2023. The Kellanova business comprises the former Kellogg’s snacks business, including the Cheez-It, Pringles and Pop-Tarts brands, as well as its frozen breakfast foods and international cereal businesses.

If a deal was reached by Mars to buy Kellanova, it would rank as one of the biggest ever in consumer packaged foods, according to Reuters, with Kellanova’s market value of about $27 billion including debt.

Other companies might step in and approach Kellanova at this point, and sources told Reuters that there are no signals that a deal would be reached between Kellanova and Mars.

In February 2024, Kellanova spoke at the Consumer Analyst Group of New York meeting, and called its rough 2023 share performance disappointing — noting that it had delivered on its financial performance expectations. At that time, Kellanova called the shareholder results “an execution problem, not a brand problem.”

The company also played up the significant success of the Pringles brand and its growth opportunities, and discussed how it was taking the Pringles playbook to other brands like Cheez-It, for instance. Kellanova also saw significant opportunities in the international marketplace for its salty snacks.

Reuters had not received comments from either company at presstime.

About the Author

Andy Hanacek | Senior Editor

Andy Hanacek has covered meat, poultry, bakery and snack foods as a B2B editor for nearly 20 years, and has toured hundreds of processing plants and food companies, sharing stories of innovation and technological advancement throughout the food supply chain. In 2018, he won a Folio:Eddie Award for his unique "From the Editor's Desk" video blogs, and he has brought home additional awards from Folio and ASBPE over the years. In addition, Hanacek led the Meat Industry Hall of Fame for several years and was vice president of communications for We R Food Safety, a food safety software and consulting company.

Sponsored Recommendations

Refrigerated transport services you can count on

Ensure product quality from origin to final destination with refrigerated shipping solutions from Schneider.

4 shipping challenges that a dedicated carrier can solve

Navigating the logistics industry is challenging. Find out how a dedicated transportation solution can solve some of the most common shipping challenges.

Dedicated lightweight solution maximizes bottled water payload

A leading bottled water company needed a carrier to transport water from 29 plants to retailers. The challenge? Handling over 46,000 pounds. Read the study.

Recipe for successful growth: Schneider’s dedicated fleet services helps bakery rise

Learn how a large bakery company complimented their private fleet with Schneider Dedicated freight services to increase freight capacity, amplify visibility & reduce costs.