Mars completes acquisition of Kellanova in $35.9-billion snacking deal

New Delhi: Mars, Incorporated, has completed its acquisition of Kellanova, bringing together some of the world’s biggest snacking brands under one company.

The deal, first announced in August 2024, values Kellanova at about $35.9 billion, with shareholders receiving $83.50 per share in cash.

With the transaction now closed, Kellanova’s snacking portfolio, including Pringles, Cheez-It, Pop-Tarts, Rice Krispies Treats, RXBAR and Kellogg’s international cereal brands, joins Mars Snacking’s existing line-up of Snickers, M&M’s, Twix, Dove, Skittles, Extra, Kind and Nature’s Bakery.

Mars said the combination unites two “iconic businesses” and positions Mars Snacking to shape the future of the global snacking market, backed by more than 50,000 associates, operations in over 145 markets and around 80 production facilities worldwide. 

The company expects the enlarged Mars Snacking business to generate about $36 billion in annual revenues and house nine brands with more than $1 billion in sales each. 

The closing follows unconditional approval from the European Commission on December 8, 2025, which cleared the last major regulatory hurdle for the transaction after a detailed competition review.