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Mars, Incorporated to acquire Kellanova for $36bn

PRIVATEFeb 27, 2026

Acquiring Company

Mars, Incorporated

Acquired Company

Kellanova

McleanChicagoManufacturingHealth CareFood And BeverageAnimal FeedPetVeterinaryFood and Beverage

Description

Mars, Incorporated has agreed to acquire Kellanova in a deal valued at approximately $36 billion, including debt. This acquisition follows Kellanova's spin-off from Kellogg and aims to strengthen Mars' position in the global snacking market. The deal received regulatory approval in the EU without conditions. Kellanova's diverse portfolio and strong cash flow made it an attractive acquisition target.

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Company Information

Company

Mars, Incorporated

Location

Mclean, Virginia, United States

About

For more than a century, Mars, Incorporated has been driven by the belief that the world we want tomorrow starts with how we do business today. This common purpose unites our 140,000+ Associates. It is at the center of who we are as a global, family-owned business, and it fuels how we are transforming, innovating, and evolving to make a positive impact on the world. Every year, our diverse and expanding portfolio of quality confectionery, food, and pet care products and services delight millions of people and supports millions of pets. With almost $45 billion in annual sales, we produce some of the world's best-loved brands including Ben's OriginalTM, CESAR®, Cocoavia®, DOVE®, EXTRA®, KIND®, M&M's®, SNICKERS®, PEDIGREE®, ROYAL CANIN®, and WHISKAS®. We are creating a better world for pets through nutrition, breakthrough programs in diagnostics, wearable health monitoring, DNA testing, pet welfare and comprehensive veterinary care with AniCura, BANFIELDTM, BLUEPEARLTM, Linnaeus and VCATM. We know we can only be truly successful if our partners and the communities in which we operate prosper. The Mars Five Principles – Quality, Responsibility, Mutuality, Efficiency and Freedom – inspire our Associates to act every day to help create a better world tomorrow in which the planet, its people and pets can thrive. For more information about Mars, please visit www.mars.com. Join us on Facebook, Twitter, Instagram, LinkedIn and YouTube.

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Frequently asked

Who acquired Kellanova?

Kellanova was acquired by Mars, Incorporated, based in Mclean. The deal was reported on February 27, 2026. For more than a century, Mars, Incorporated has been driven by the belief that the world we want tomorrow starts with how we do business today. This common purpose unites our 140,000+ Associates. Mars, Incorporated is privately held and operates in Manufacturing.

When did Mars, Incorporated acquire Kellanova?

Mars, Incorporated's acquisition of Kellanova was reported on February 27, 2026. Mars, Incorporated has agreed to acquire Kellanova in a deal valued at approximately $36 billion, including debt. This acquisition follows Kellanova's spin-off from Kellogg and aims to strengthen Mars' position in the global snacking market. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.

What does Kellanova do?

Kellanova is a leader in global snacking, international cereal and noodle. The company focuses on delivering Differentiate, Drive & Deliver strategy, developing talent and advancing their purpose. It is privately held, operating in Food and Beverage, and is based in Chicago.

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