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M&A Deal Summary

Mars Acquires Kellanova

On August 14, 2024, Mars acquired food company Kellanova for 35.9B USD

Acquisition Highlights
  • This is Mars’ 11th transaction in the Food sector.
  • This is Mars’ largest (disclosed) transaction.
  • This is Mars’ 15th transaction in the United States.
  • This is Mars’ 2nd transaction in Illinois.

M&A Deal Summary
Date 2024-08-14
Target Kellanova
Sector Food
Buyer(s) Mars
Deal Type Add-on Acquisition
Deal Value 35.9B USD
Advisor(s) Goldman Sachs (Financial)
Kirkland & Ellis (Legal)

Target

Kellanova

Chicago, Illinois, United States
Kellanova is a food company engaged in the manufacture and marketing of ready-to-eat convenience foods. The Company's principal products include cookies, crackers, snacks, toaster pastries, cereal bars, fruit-flavored snacks, frozen waffles, and veggie foods. It also markets other convenience foods, under brands such as Keebler, Cheez-It, Murray, Austin, and Famous Amos. Kellanova is based in Chicago, Illinois.

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Buyer(S) 1

Buyer

Mars

McLean, Virginia, United States
Category Company
Founded 1911
Sector Food
Revenue 33.0B USD (2015)
DESCRIPTION

Mars is a global manufacturer of confectionery, pet food, and other food products and a provider of animal care services. Mars was established in 1911 and is headquartered in McLean, Virginia.

DEAL STATS #
Overall 22 of 22
Sector: Food M&A 11 of 11
Type: Add-on Acquisition M&A Deals 18 of 18
State: Illinois M&A 2 of 2
Country: United States M&A 15 of 15
Year: 2024 M&A 3 of 3
Size (of disclosed) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-03 Antagene

La Tour de Salvagny, France

Antagene is a biotechnology company that develops and markets genetic tests for animal welfare, certification of origins, and disease prevention in pets. The company develops and markets innovative tools to improve the traceability and health of pets, as part of a rigorous quality approach. Antagene is based in La Tour de Salvagny, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-07-28 Whistle

San Francisco, California, United States

Whistle is a manufacturer of GPS location monitors and fitness tracking devices for dogs. Whistle was formed in 2012 and is based in San Francisco, California.

Sell -
Mergr

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Legal