Mars Incorporated has received unconditional regulatory approval from the European Commission for its acquisition of Kellanova.
Kellanova’s portfolio of snacking brands, which includes Pringles®, Cheez-It®, Pop-Tarts®, Rice Krispies Treats®, RXBAR® and Kellogg’s international cereal brands, will join the existing Mars Snacking portfolio. This includes brands such as Snickers®, M&M’s®, Twix®, Skittles®, Extra® and Kind®.
Following the close of the pending transaction, Mars said it expects the combined Snacking business to generate around $36 billion in annual revenues.
Mars Snacking will continue to be headquartered in Chicago, Illinois, and will operate in more than 145 markets. With a team of more than 50,000 associates, it will operate 80 global production facilities and more than 170 retail outlets.
Poul Weihrauch, CEO and office of the president of Mars, Incorporated, commented: “We are excited to have received final regulatory approval for the pending acquisition of Kellanova.
“Our focus now turns to welcoming Kellanova employees to Mars and creating an even more innovative global snacking business that delivers greater choice and quality to more consumers around the world.”
Andrew Clarke, global president of Mars Snacking, stated: “This marks an extraordinary milestone and the culmination of years of work for many of our associates.
“We can’t wait to welcome Kellanova talent to Mars and create a shared, global snacking leader with a beloved range of brands. We’ve said all along that Mars Snacking and Kellanova will be better together, building on the strength of our respective legacies and capabilities to unlock new possibilities and drive growth.”
Steve Cahillane, chairman, president and CEO of Kellanova, said: “This combination will bring together two purpose-driven and principles-led companies. Serving as Kellanova’s chairman, president and CEO has been a true honour, and I’m looking forward to seeing Kellanova people and brands thrive as part of Mars Snacking.”
Following the completion of the transaction, Kellanova’s common stock will be delisted and will cease trading on the New York Stock Exchange.
