Pringled by Mars
Sweets group take over salty snack maker. Mars, the confectionary, food and pet-care giant has reached an agreement to acquire Pringles and Pop-tarts maker Kellanova for £28bn ($35.9bn). The US conglomerate famous for M&M’s, Snickers and Skittles agreed to pay $83.50 per share for Kellanova in all-cash transaction and will also take on more than $6bn in net debt. The offer is a premium of more than 69 per cent over where Kellanova’s shares were trading a few months ago. The Mars- Kellanova deal comes amid slowing down on customer spending following years of inflation. Poul Weihrauch, Mars CEO said … Continue reading Pringled by Mars
