Mars
Assembly Line
Mars to Acquire Kellanova
Mars, Incorporated, a family-owned, global leader in pet care, snacking and food, and Kellanova (NYSE: K), a leading company in global snacking, international cereal and noodles, North American plant-based foods and frozen breakfast foods, announced that they have entered into a definitive agreement under which Mars has agreed to acquire Kellanova for $83.50 per share in cash, for a total consideration of $35.9 billion, including assumed net leverage.1 The transaction price represents a premium of approximately 44% to Kellanova’s unaffected 30-trading day volume weighted average price and a premium of approximately 33% to Kellanova’s unaffected 52-week high as of August 2, 2024. The total consideration represents an acquisition multiple of 16.4x LTM adjusted EBITDA as of June 29, 2024.
The Future of Sustainable Design with Mars and Ansys
Mars, Accenture to Develop ‘Factory of the Future’
Mars is collaborating with Accenture to digitize its operations using artificial intelligence (AI), cloud, edge technology and digital twins. The companies have been working in partnership since 2020, trialing digital twin solutions for Mars’ manufacturing operations. The tech will allow Mars to simulate and test planned changes before committing resources to them. The project seeks to target the company’s overall emissions, as well as water use and cost of operations, with digital twin tech hoped to enable predictive maintenance and pre-empt other potential problems to minimize cost (and resource) waste.