Mars acquires Kellanova, Pringles, Cheez-It, Pop-Tarts, RXBAR, Nutri-Grain, Special K and Crunchy Nut
Mars agreed in August 2024 to buy Kellanova for $83.50 a share in cash, a total enterprise value of $35.9 billion including assumed net leverage, and completed the purchase on 11 December 2025 after the last regulatory approvals arrived three days earlier. Kellanova became a wholly owned subsidiary of Mars and its shares left the New York Stock Exchange. The brands did not change hands individually: Pringles, Cheez-It, Pop-Tarts, RXBAR and the international Kellogg cereals stay with Kellanova, which is now a private family-owned company's snacking arm rather than a listed business.
- Value
- $35.9bn
- Buyer
- Mars
- Seller
- public shareholders
- Regulatory
- None recorded