Mars, Incorporated

Money Moves

Owner of Kellanova since 2025; directing the plant closure

The frozen waffle was invented on this San Jose factory floor. The plant that made Eggos for parts of nine decades will stop production in November.

Updated 14 hours ago

Money Moves

Family-owned acquirer; now ultimate parent of Kellanova and an expanded Mars Snacking division.

The company behind M&M's and Snickers just swallowed Pringles, Cheez-It and Pop-Tarts. Mars closed its $35.9 billion all-cash acquisition of Kellanov in December 2025, taking the Kellogg snack spin-off private and rolling its brands into an enlarged Mars Snacking empire. In early 2026, the combined company is moving quickly—industry analysts predict aggressive innovation in flavor mashups (think Pringles-branded candy bars or Cheez-It M&M's), alongside dual-branded marketing campaigns already planned for 2026.

Updated May 11

Money Moves

Acquiring Kellanova and expanding private control over global snack brands

Before the market opened on December 11, Ares Management — a private-credit powerhouse with nearly $600 billion under management — slid into the S&P 500, replacing Kellanov. Kellanov completed its $35.9 billion sale to Mars that day.

Updated May 10