M&M's Meets Pringles: Mars Announces Massive $36 Billion Acquisition of Kellanova
American candy giant Mars is acquiring Pringles maker Kellanova in a nearly $36 billion deal. The acquisition will bring together brands like M&M's, Snickers, Pringles, Cheez-It, and Pop-Tarts under one roof. The takeover is the largest reported deal of the year so far. Kellanova was established last year as a spin-off from cereal maker Kellogg and reported net sales of $13 billion last year. The move comes as the US food packaging sector sees numerous acquisitions and mergers, driven by inflation’s impact on consumer spending. Earlier, Mars CEO Poul Weihrauch said that they plan to maintain stable prices during these inflationary times.
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