Oct 08 2024 18 mins 21
Mars Inc., known for its chocolate products like Mars bars and M&Ms, is making a major move into the savory snack market. With a $35.9 billion deal to acquire Kellanova, Mars is positioning itself to compete with industry giants like PepsiCo. This acquisition could reshape the savory snack landscape and help Mars diversify beyond its traditional chocolate-based portfolio.
Skip Montreux and Dez Morgan discuss Mars Inc.’s acquisition of Kellanova, a major player in the global savory snack market. Formerly part of Kellogg's, Kellanova produces well-known brands like Pringles and Rice Krispie Treats. Skip and Dez explore why Mars, typically focused on chocolate, is investing heavily in snacks like crisps and pretzels. They also look at how the rise in cocoa prices has pushed Mars to diversify its portfolio and enter the savory snack market.
Listeners looking to enhance their business English, Skip and Dez's discussion offers valuable insights Mars Inc.'s strategic move into the savory snack market. Key points include:
- Mars Inc. is acquiring Kellanova for $35.9 billion, giving it a major stake in the global snack food industry.
- Kellanova is a new snack food company, formerly a division of Kellogg's, featuring brands like Pringles.
- Rising cocoa prices are driving Mars to diversify into savory snacks, which are less affected by cocoa market fluctuations.
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