The merger of two food giants?
B92 05.08.2024 | SEEbiz
Food giant Mars, whose candy brands include M&M's and Snickers, is exploring a potential acquisition of Kellanova, maker of snacks such as Cheez-It and Pringles, according to people familiar with the matter.
The deal would be one of the largest ever in the food sector, given Kellanova's market value of about $27 billion including debt, and would test regulators' appetite to allow consolidation in the sector. Kellanova shares have risen about 20% since it was spun off from WK Kellogg Co last October, but it still trades at a discount to some rivals, such as Hershey and Mondelez International, making it a potential acquisition target. There is no certainty that Kellanova
