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Mars Inc. announced Wednesday that it will acquire snack maker Kellanova in a deal valued at $35.9 billion.
Mars, the company housing brands like Snickers, Pedigree, M&M’s and Twix, said the deal it reached with Kellanova will involve paying $83.50 per share.
The move will help Mars lean further into the snacking category as it seeks to “double Mars Snacking in the next decade,” the company said.
A Kellanova logo is seen on a smartphone. (Pavlo Gonchar/SOPA Images/LightRocket via Getty Images / Getty Images)
The transaction is expected to close in the first six months of 2025.
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