It will add Cheez-It and Pringles to the Mars portfolio
of ConsumerAffairs
Mars, the candy and snack company that owns M&Ms and Snickers, is expanding deeper into the salty snack world. It is spending around $30 billion to buy Kellanova, a snack company that owns Cheez-It and Pringles.
Kellanova is a relatively new company. It was established when cereal giant Kellogg broke up into three separate companies. With the acquisition, Mars will also get Eggo, Town House, MorningStar Farms and Rice Krispies Treats.
Mars is also the company behind Skittles, Lifesavers and Juicy Fruit gum. Industry analysts say Americas snacking habits have changed over the years and the addition of Kellanovas brands will give Mars a stronger position in the market.
"The Kellanova brands significantly expand our snacking platform, allowing us to even more effectively meet consumer needs and drive profitable business growth," Andrew Clarke, global president of Mars Snacking, said in a statement.
Mars was founded in 1911, basically with one product - buttercream candy. It introduced the Snickers bar in the midst of the Great Depression and M&Ms followed on the eve of Americas entry into World War II. M&Ms were designed with a hard candy shell, protecting a soft chocolate center, for the U.S. military because they would hold up in just about any climate.
Mars used that advantage after the war when its advertising slogan was M&Ms melt in your mouth, not in your hands."
The merger deal is expected to close in the first half of 2025.
Photo Credit: Consumer Affairs News Department Images
Posted: 2024-08-15 11:30:40
