The Competition Commission of India (“CCI”) vide Press Release No. 90/2024-2025[1], dated December 31, 2024, approved the acquisition of all outstanding equity shares of Kellanova by Mars, Incorporated (“Mars”). The acquisition shall be structured in a manner that Merger Sub, a direct wholly owned subsidiary of Acquiror 10VB8 LLC (“Acquiror”), shall merge with and into Kellanova. As a result, Kellanova shall remain as the surviving entity and will become an indirect wholly owned subsidiary of Mars.
The Acquiror is a limited liability company and a direct wholly owned subsidiary of Mars, which is created specifically for the purpose of this acquisition. The Acquiror is headquartered in McLean, Virginia and operates its business in three primary segments: Snacking, Food & Nutrition, and Petcare. However, in India, Mars’ snacking division supplies only sweet confectionery, such as chocolate confectionery and sugar confectionery, along with gum.
Kellanova, formerly Kellogg Company, is a corporation from Delaware, listed on the New York Stock Exchange. Kellanova mainly manufactures and sells snacks and convenience foods. However, in India, Kellanova only supplies breakfast cereals and potato crisps.
[1] https://www.cci.gov.in/media-gallery/press-release/details/477/0