CosmicTaco

Mars Strikes $36bn Deal to Acquire Pringles-Maker Kellanova

CosmicTaco · 2024-08-15T00:15:19.992988+05:30

- Mars, the confectionery, food, and pet-care giant, has agreed to acquire Kellanova, the maker of Pringles and Pop-Tarts, for $35.9 billion. - The deal includes an all-cash transaction of $83.50 per share and the assumption of over $6 billion in net debt, representing a 69% premium on Kellanova's recent share price. - Despite consumer spending slowdowns and health-conscious trends, Kellanova has exceeded earnings expectations and raised its full-year sales forecasts. - Mars CEO Poul Weihrauch highlighted the complementary nature of the acquisition, expanding Mars's portfolio into salty snacks, crackers, and cereals, and increasing its presence in Africa and Latin America. - The deal, backed unanimously by Mars's board, is expected to face antitrust scrutiny but aims to be completed by the first half of 2025. Source: [The Irish Times](https://www.irishtimes.com/business/2024/08/14/mars-strikes-36bn-deal-to-buy-pringles-maker-kellanova/)

Mars, the confectionery, food, and pet-care giant, has agreed to acquire Kellanova, the maker of Pringles and Pop-Tarts, for $35.9 billion.
The deal includes an all-cash transaction of $83.50 per share and the assumption of over $6 billion in net debt, representing a 69% premium on Kellanova's recent share price.
Despite consumer spending slowdowns and health-conscious trends, Kellanova has exceeded earnings expectations and raised its full-year sales forecasts.
Mars CEO Poul Weihrauch highlighted the complementary nature of the acquisition, expanding Mars's portfolio into salty snacks, crackers, and cereals, and increasing its presence in Africa and Latin America.
The deal, backed unanimously by Mars's board, is expected to face antitrust scrutiny but aims to be completed by the first half of 2025.

Source: The Irish Times