MCLEAN, VA. — Mars, Inc. is in “advanced talks” to acquire Kellanova, the snack-centric business spun off from Kellogg Co. last year, according to The Wall Street Journal.
The deal “could come together imminently,” according to the story, and value Kellanova at approximately $30 billion.
Kellanova has approximately $13 billion in annual sales, employs more than 24,000 and has a manufacturing footprint that spans 20 different countries. Key product categories in its portfolio will include snacks, international cereal, frozen foods, noodles and others. Fifty percent of the business’ sales will come from five brands, including Pringles, Cheez-It, Rice Krispies Treats, Pop-Tarts and Eggo.
If the deal is completed, it would add to Mars’ snack portfolio which includes such brands as Kind, M&M’s, Nature’s Bakery, Skittles, Starburst and many others.
