M&M’S is a multi-billion dollar candy brand.

The acquisition of Kellanova gives Mars Snacking – which owns multi-billion dollar snack and confectionery brands such as Snickers, M&M’S, Twix, Dove and Extra, as well as KIND and Nature’s Bakery – entry into new attractive snack categories.

This will add two new billion-dollar brands to the Mars business, which now includes 15 billion-dollar brands: Pringles and Cheez-It. The deal also expands the health and wellness side of the Mars snacking portfolio with new complementary products: RXBAR and NutriGrain, to reflect global trends and preferences.

With more than 150,000 employees in its Petcare, Snacking and Food businesses, Mars generated net sales of over $50 billion in 2023.

“By adding Kellanova’s portfolio of growing global brands, we have a great opportunity for Mars to further develop a sustainable snacking business that is ready for the future. We will celebrate the heritage and innovation behind Kellanova’s incredible snacking and food brands, while combining our respective strengths to offer consumers and customers more choice and innovation,” said Poul Weihrauch, CEO and Office of the President at Mars. “We have great respect for the storied legacy that Kellanova has built and look forward to welcoming the Kellanova team.”

Strategic vision for the future of snacking

According to Mars, the acquisition of Kellanova will enable the company to advance its strategic vision for the future of snacking by:

• Accelerating the goal to double Mars Snacking over the next decade in line with global consumer demand trends;
• Expanding the portfolio by adding unique, leading and growing brands;
• Providing a stronger, differentiated portfolio and distribution platform for priority international markets;
• We bring together world-class talent with unparalleled experience in brand building.
• By combining complementary skills, we can drive growth and customer-focused innovation.
• Amplifying the positive societal impacts of strong sustainability efforts.

Upon completion of the transaction, which is expected to close in the first half of 2025, Kellanova will become part of Mars Snacking, led by Snacking Global President Andrew Clarke.

“This is an exciting opportunity to build a broader, global snacking business that will enable Kellanova and Mars Snacking to reach their full potential,” said Clarke. “Kellanova and Mars have a long shared history of building globally recognized and loved brands. The Kellanova brands significantly expand our snacking platform, enabling us to even more effectively meet consumer needs and drive profitable business growth. Our complementary portfolios, market access and R&D capabilities will unlock increased consumer-focused innovation to shape the future of responsible snacking.”