Mars To Acquire Snack Maker Kellanova For $36B

Retail
Written By Rick Watson

Founded in 1911 and headquartered in McLean, Virginia, Mars operates in over 80 countries and is known for its leadership in various sectors, including confectionery, pet care, food, and beverages. Some of its most well-known brands include M&M's, Snickers, Pedigree, and Whiskas.

Kellanova, formerly known as Kellogg Company, is a leading global manufacturer of snacks and breakfast foods, with iconic brands such as Pringles, Corn Flakes, and Special K.

Mars has agreed to acquire Kellanova for $83.50 per share in cash, for a total consideration of $35.9B, The total consideration represents an acquisition multiple of 16.4x LTM adjusted EBITDA as of June 29, 2024. Did anyone see this mega deal coming?

Reuters: Mars to buy Pringles maker Kellanova for $36 billion in 2024's biggest deal

Rick Watson

Rick Watson founded RMW Commerce Consulting after spending 20+ years as a technology entrepreneur and operator exclusively in the eCommerce industry with companies like ChannelAdvisor, BarnesandNoble.com, Merchantry, and Pitney Bowes.

Watson’s work today is centered on supporting investors and management teams incubating and growing direct-to-consumer businesses. Most recently, in partnership with WHP Global, Rick was a critical resource in architecting the WHP+ platform, a new turnkey direct to consumer digital e-commerce platform that powers AnneKlein.com and JosephAbboud.com.

Watson also hosts a weekly podcast, Watson Weekly, where he shares an unbiased, unfiltered expert take on the retail sector’s biggest players.

In the past year alone, Rick has spoken at many in-person and virtual events as well as podcasts on topics ranging from retail/ecom to supply chain/logistics and even digital grocery including CommerceNext IRL, ASCM Connect, and Retail Innovation Conference.

https://www.rmwcommerce.com/
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