The Associated Press
Mars, whose brands include M&M’s, Snickers and Skittles, is buying food company Kellanova in a deal worth nearly $30 billion, giving it access to a huge portfolio of consumer brands from Cheez-It to Pop-Tarts. Kellanova was created when the Kellogg Co. split into three companies last year. Kellanova, based in Chicago, houses many brands, including Pringles, Town House, MorningStar Farms and Rice Krispies Treats.
The deal is expected to close in the first half of next year. Once it is complete, Kellanova will become part of Mars Snacking. It will remain based in Chicago. “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.
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