Steve Cahillane, the chairman, president, and CEO of Kellanova, based in Chicago, expressed enthusiasm about the recent transaction with Mars, describing it as a historic alliance that aligns well culturally and strategically. Cahillane highlighted that Kellanova has been on a path to transform into the leading snacking company globally. He noted that joining forces with Mars will help accelerate Kellanova’s potential and vision. The deal, which is an all-cash transaction, aims to maximize shareholder value while offering exciting opportunities for employees, customers, and suppliers.
Once finalized, Kellanova will operate under Mars Snacking, which is led by Global President Andrew Clarke. This move aims to further enhance Mars’ ability to bring popular brands to a broader consumer base worldwide. Mars intends to support and develop Kellanova’s brands by innovating to adapt to changing consumer preferences, investing locally to expand reach, and offering healthier nutrition options.
Clarke remarked on the significant opportunity this partnership presents for creating a larger global snacking business, enabling both Kellanova and Mars Snacking to maximize their potential. He noted that both companies have a rich history of developing globally recognized brands, and the integration of Kellanova’s brands into Mars’s portfolio would enhance their ability to meet consumer needs and stimulate profitable growth. The collaboration will foster innovation centered on consumer preferences in the realm of responsible snacking.