(Reuters) – Snickers-maker Mars inked one of the biggest deals in the packaged food industry when it said it would buy Cheez-It owner Kellanova in a $35.9 billion deal on Wednesday.
Dealmaking in the packaged food sector has been robust as companies seek scale to weather the impact of price inflation and weight-loss drugs weighing on demand.
Here’s a list of the biggest M&As in the industry over the past few decades:
Date Merger
Dec Britain’s Cadbury Schweppes Plc agreed to buy U.S.
2002 sweet maker Adams, owner of Trident and Dentyne
chewing gums and Halls cough drops, for $4.2 billion
from drugmaker Pfizer (NYSE:), making it the world’s largest
confectionary group.
Nov Kraft Foods completes its acquisition of
30, France-based Group Danone’s global biscuit business
2007 for 5.3 billion euros ($7.2 billion), including the
LU family of brands, expanding the largest North
American food maker’s foothold in Europe and
emerging markets.
April Mars created the world’s largest confectionary
29, company with its $23 billion acquisition of chewing
2008 gum manufacturer Wm Wrigley Jr Co. Combined, the two
companies held 14.4% of the global confectionary
market in 2006.
Jan 5, Nestle bought Kraft Foods’ North American frozen
2010 pizza business for $3.7 billion and ruled out an
offer for Cadbury.
Jan Kraft Foods bought British candy maker Cadbury for
19, about $19.6 billion, creating the world’s biggest
2010 confectioner, and marking the largest European food
and beverage deal on record, according to Thomson
Reuters data.
Aug 4, Kraft Foods said it would spin-off its grocery
2011 business to focus on its snacks unit, which was
seeing strong growth in emerging markets.
April Nestle bought U.S. drugmaker Pfizer’s infant
23, nutrition business for $11.85 billion, beating out
2012 French rival Danone as both sought to gain a strong
foothold in the baby food market.
Oct 1, Kraft Foods completes the split of its business,
2012 creating two separate companies. Mondelez (NASDAQ:)
International, a global snacks company, and Kraft
Foods Group, which would be the North American
grocery products firm.
July H.J. Heinz Co, backed by Warren Buffett’s Berkshire
2, Hathaway Inc, completed its purchase of Kraft Foods
2015 Group Inc in a $46 billion deal, creating the
third-largest food and beverage company in North
America and fifth largest worldwide.
The new company, Kraft Heinz (NASDAQ:), was expected to have
about $28 billion of annual revenue from brands such
as Oscar Mayer, Jell-O and Heinz ketchup.
Aug Mondelez International abandoned its pursuit to
29, acquire Reese’s Peanut Butter Cups maker Hersheys
2016 after the company turned down its $23 billion
cash-and-stock offer. The deal would have created
the world’s largest confectioner at the time,
overtaking Mars.
Jan Swiss food group Nestle, also the world’s biggest
18, packaged-food company, agreed to sell its U.S.
2018 confectionery business to Italy’s Ferrero, maker of
Nutella spread and Ferrero Rocher, for $2.8 billion.
Jan Keurig Green Mountain struck a deal worth more than
29, $21 billion to combine with soda maker Dr Pepper
2018 Snapple Group Inc to form a North American drinks
company, Keurig Dr Pepper (NASDAQ:)
Feb Cheerios cereal maker General Mills (NYSE:) bought Blue
23, Buffalo Pet Products Inc for nearly $8 billion,
2018 foraying into a fast-growing pet food market to
counter declining sales of processed foods, as
consumers turned more health conscious.
Dec Nestle SA (SIX:) agreed to sell its U.S. ice cream business
11, to Froneri in a deal valued at $4 billion, moving
2019 control of brands including Häagen-Dazs to a joint
venture the Swiss group set up in 2016.
June Cadbury parent Mondelez International bought energy
21, bar maker Clif Bar & Company for $2.9 billion, as
2022 the company continued to consolidate its global
presence.
April Mondelez International broadened its presence in
25, Mexico with a $1.3 billion purchase of breadmaker
2022 Grupo Bimbo’s confectionery business, Ricolino.
Dec Mondelez sold its gum business, which housed brands
19, such as Trident and Dentyne, in developed markets to
2022 European gum and confectionery maker and Mentos
parent Perfetti Van Melle Group for $1.35 billion
March U.S. packaged food maker Campbell Soup (NYSE:) completes the
12, acquisition of Rao’s Homemade-owner Sovos Brands in
2024 a $2.33-billion deal.
Aug Snickers-maker Mars buys Pringles owner Kellanova in
14, a nearly $36 billion deal.
2024
Source: Company releases, Reuters articles
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