Confectionery giant Mars is set to become even bigger with the news it is to buy Kellanova in a deal worth nearly $36bn (£28bn).
The acquisition, which easily eclipses Mars’ $23bn acquisition of Wrigley in 2008, should be completed in the first half of 2025. Legal experts expect regulators to give it the nod.
Mars is known for its confectionery brands like Twix, Bounty, Milky Way, M&Ms, and Skittles. Kellanova was spun off from Kellogg’s last year to focus on snacks and cereals outside North America.
Aside from making the likes of Corn Flakes and Frosties in the UK, Kellanova’s portfolio includes Pringles and Pop-Tarts. It has also just launched the billion-dollar US savoury snacking brand Cheez-It in Britain.
The buyout comes against a background of rising food and drink prices in the UK, as well as a clampdown on the sale and promotion of junk foods.
