Mars is buying the food company Kellanova in a deal worth nearly $30bn (£23.3bn).
The deal will see the business, which already owns several brands such as M&M’s, Snickers and Skittles, take control of a huge portfolio of products, including Pringles, Pop Tarts and Cheez-Its.
Kellanova was created when the Kellogg Co split into three companies in 2022.
Based in Chicago, it had net sales of more than $13bn (£10bn) last year and has around 23,000 employees.
Mars Inc said it will pay $83.50 dollars (£65.02) per share in cash, putting the total value of the transaction at £35.9bn (£27.9bn).
The deal is expected to close in the first half of next year.
“The Kellanova brands significantly expand our snacking platform, allowing us to even more effectively meet consumer needs and drive profitable business growth,” Andrew Clarke, global president of Mars Snacking, said in a statement.
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