Candy giant Mars Inc. is in advanced talks to acquire snack-maker Kellanova, according to people familiar with the matter.
A deal could come together imminently, assuming the talks don’t fall apart, the people said.
Including a typical deal premium, a deal could value Kellanova at around $30 billion and rank among the biggest transactions so far this year.
Kellanova, which was spun off from Kellogg last year, has a market value of around $22 billion. It sells brands including Pringles, Cheez-It, Pop-Tarts, Eggo waffles, MorningStar Farms and some international cereal banners.
Privately held Mars sells brands including M&Ms, Snickers and Skittles. The McLean, Va.-based company is family owned and also runs a substantial pet-food business. In 2017, it paid $7.7 billion deal for veterinary and dog daycare company VCA. #groceryindustry Lauren Thomas
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