Food giant Mars is reportedly in advanced negotiations with Pringles producer Kellanova. If a deal is reached, it will be the largest acquisition in the food sector in the past decade.
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As Kellanova could be worth some 27 billion dollars (25 billion euros), an acquisition could become the biggest deal in the food industry since 3G Capital and Warren Buffett took over Heinz – and the subsequent merger with Kraft Foods in 2015. The last big acquisition for Mars was chewing gum brand Wrigley in 2008 – and Warren Buffett was involved in that too.
However, it is not yet certain whether takeover talks will actually lead to a deal. The companies involved are not commenting on the rumors, which were brought out by Reuters and The Wall Street Journal based on anonymous sources.
Fabrieken in België
Kellanova started in 2022, as a spin-off from the famous Kellogg’s company, and accounts for twelve billion dollars (eleven billion euros) in sales. The company features international breakfast cereal operations with brands such as Kellogg’s and Frosties, and a snack division with Pringles, Eggo, Cheez-It and Pop-Tarts.
Family-owned Mars is known for the eponymous chocolate snack and the bars Snickers, Bounty and Twixx. In pet food, the best-known brands are Pedigree and Whiskas, while Ben’s Original (rice) is another branch. The group achieves annual sales of about 45 billion dollars (41 billion euros).
Both companies have significant manufacturing facilities in Belgium: the Pringles plant in Mechelen serves nine European countries; the Ben’s Original rice plant in Olen even exports to 35 countries worldwide.
