Mars is in talks to buy Pringles maker Kellanova
09.08.2024
The biggest news in FMCG sector this August is about the chocolate giant Mars. The sweets, food and petcare conglomerate, is in talks to buy Pringles maker Kellanova.
New York-listed Kellanova, which had a market capitalisation of $22 billion (€20 billion) on Friday, was created in 2023 by the break-up of Kellogg’s that separated its breakfast cereals and snacks businesses. Its shares were trading up about 15 per cent at $72.11 on Monday morning.
Kellanova owns snacks including Pringles, Cheez-Its and Rice Krispies Treats. Family-owned Mars is one of the largest privately held companies, with annual sales of more than $50 billion and more than 150,000 employees.
The potential deal comes as consumers cut their spending after several years of inflation that have left prices for many staples above pre-pandemic levels. The purchase of Kellanova would also mark one of the food sector’s biggest deals in several years.
About Mars: Mars is becoming a leading company in the consumer packaged goods sector worldwide has taken Mars incorporated more than a century. But the effort has paid off, since in 2022 the corporation holds one of the highest positions in the global confectionery sales market. Nowadays Mars distribution internationally is generating an approximate annual profit of US $40 billion.
It all started in Tacoma, Washington, US in 1911 where the firm’s founder Franklin Clarence Mars established the company. At present it is a privately held business, headquartered in McLean, Virginia, owned entirely by the Mars family.
Although Mars corporation produces canine and feline nutrition foods, pet care products for veterinary health, drinks for office vending machines, and owns well-known subsidiary brands as Wrigley, it is best recognized for its confectionery products. It may be due to the fact that its early days of glory were marked by the Milky Way distribution. This chocolate-malted milk candy bar took over the local US market quite quickly. Its success was inevitably followed by their next sweet product - the Snickers bar. The company’s following exquisite creation to be acknowledged worldwide was the Mars candy bar. It came right after the establishment of Mars Ltd. in the United Kingdom and is definitely still one of the most favored items globally.
To match the increasing demand for more natural food ingredients on a global scale, in 2016 Mars Incorporated announced that more than 50 of its packaged candies and other consumables would no longer be manufactured with artificial dye. Instead natural coloring such as turmeric or cocoa would be used in production. This policy had an expected positive effect on Maltesers, Bounty, M&M’s, and Twix wholesale worldwide.
New York-listed Kellanova, which had a market capitalisation of $22 billion (€20 billion) on Friday, was created in 2023 by the break-up of Kellogg’s that separated its breakfast cereals and snacks businesses. Its shares were trading up about 15 per cent at $72.11 on Monday morning.
Kellanova owns snacks including Pringles, Cheez-Its and Rice Krispies Treats. Family-owned Mars is one of the largest privately held companies, with annual sales of more than $50 billion and more than 150,000 employees.
The potential deal comes as consumers cut their spending after several years of inflation that have left prices for many staples above pre-pandemic levels. The purchase of Kellanova would also mark one of the food sector’s biggest deals in several years.
About Mars: Mars is becoming a leading company in the consumer packaged goods sector worldwide has taken Mars incorporated more than a century. But the effort has paid off, since in 2022 the corporation holds one of the highest positions in the global confectionery sales market. Nowadays Mars distribution internationally is generating an approximate annual profit of US $40 billion.
It all started in Tacoma, Washington, US in 1911 where the firm’s founder Franklin Clarence Mars established the company. At present it is a privately held business, headquartered in McLean, Virginia, owned entirely by the Mars family.
Although Mars corporation produces canine and feline nutrition foods, pet care products for veterinary health, drinks for office vending machines, and owns well-known subsidiary brands as Wrigley, it is best recognized for its confectionery products. It may be due to the fact that its early days of glory were marked by the Milky Way distribution. This chocolate-malted milk candy bar took over the local US market quite quickly. Its success was inevitably followed by their next sweet product - the Snickers bar. The company’s following exquisite creation to be acknowledged worldwide was the Mars candy bar. It came right after the establishment of Mars Ltd. in the United Kingdom and is definitely still one of the most favored items globally.
To match the increasing demand for more natural food ingredients on a global scale, in 2016 Mars Incorporated announced that more than 50 of its packaged candies and other consumables would no longer be manufactured with artificial dye. Instead natural coloring such as turmeric or cocoa would be used in production. This policy had an expected positive effect on Maltesers, Bounty, M&M’s, and Twix wholesale worldwide.