After more than a year of regulatory review, Mars and Keranova have realized one of the largest packaged food transactions since the merger. 2015 Kraft and HJ Heinz merger.
Under the new consolidated structure, KeranovaThe company’s multibillion-dollar brands, including Pringles, Cheez-Its and Kellogg’s, will come under the Mars umbrella, expanding its portfolio of brands that already includes Snickers, M&Ms, Twix, Dove, Skittles and Extra.
The $36 billion deal also expands Accelerator’s portfolio, a division of Mars Snacking, to include brands such as RXBAR, Nutri-Grain Bars and Special K Bars.
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“Today is a transformative moment, and we are excited to welcome Keranova to Mars,” said Andrew Clark, global president of Mars Snacking, in a statement. “With more than a century of pioneering new categories and building iconic brands, Mars and Keranova are joining forces to shape the future of snacking.”
Originally Mars announced the acquisition The move will drive consumer-centric innovation through digital capabilities and research and development, support progress in sustainability, strengthen distribution and double Mars Snacking’s presence over the next 10 years, it said.
