Family-owned packaged food giant Mars, whose candy brands include M&M's and Snickers, is exploring a potential acquisition of Kellanova, maker of snacks such as Cheez-It and Pringles, according to people familiar with the matter.
Mars and Snickers bars are seen in this picture illustration taken Feb 23, 2016.Family-owned packaged food giant Mars, whose candy brands include M&M's and Snickers, is exploring a potential acquisition of Kellanova, maker of snacks such as Cheez-It and Pringles, according to people familiar with the matter.
There is no certainty that Kellanova will pursue a deal with Mars, the sources said. Another suitor could also approach Kellanova, and it's possible that no deal with any party is reached, the sources added, requesting anonymity because the matter is confidential. Last year, J.M. Smucker SJM.Nacquired Twinkies maker Hostess Brands for US$5.6 billion, in a deal that united two major American snack makers.
The Federal Trade Commission and the state of Colorado have sued to block grocery store operator Kroger's US$25 billion proposed acquisition of Albertsons, citing concerns the deal would hike prices for millions of Americans.
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