Steve Cahillane, chairman, president, and CEO of Kellanova, based in Chicago, expressed enthusiasm about the company’s merger with Mars, describing it as a historic partnership with both cultural and strategic alignment. He stated that Kellanova is on a transformational path to become the leading snacking company globally, and this merger will expedite achieving their vision and potential. The all-cash transaction is designed to maximize shareholder value at an appealing purchase price while opening new opportunities for employees, customers, and suppliers. Cahillane expressed confidence that Mars, with its proven success in nurturing acquired businesses, is the ideal home for Kellanova’s brands and employees.
Following the completion of the transaction, Kellanova will integrate into Mars Snacking, led by Global President Andrew Clarke in Chicago. This integration will help Mars expand its portfolio of popular brands and reach more consumers globally. Mars intends to focus on nurturing and enhancing Kellanova’s brands, promoting innovation to cater to changing consumer preferences, investing locally to broaden market access, and introducing healthier nutrition options.
Clarke highlighted that the merger presents an exciting chance to build a larger global snacking business, allowing both Kellanova and Mars Snacking to realize their full potential. He noted that the partnership leverages their shared histories of creating globally recognized brands. The collaboration is expected to enhance the snacking platform, effectively address consumer needs, and drive profitable growth. The complementary nature of their portfolios, market approaches, and research and development capabilities is anticipated to foster innovation focused on responsible snacking in the future.