Mars - M&A Summary and Business Overview

FoodCompany

Mars M&A Summary

Mars has acquired 24 companies, including 10 in the last 5 years. A total of 8 acquisitions came from private equity firms. It has also divested 2 assets.

Mars’ largest acquisition to date was in 2024, when it acquired Kellanova for $35.9B. Mars has acquired in 10 different US states, and 7 countries. The Company’s most targeted sectors include food (50%) and consumer services (23%).

Mars Business Overview

Where is Mars headquartered?

Mars is headquartered in McLean, Virginia.

What sector is Mars in?

Mars is a food company.

When was Mars founded?

Mars was founded in 1911.

M&A Summary

  • M&A Total Activity24
    • M&A Buy Activity22
    • M&A Sell Activity2
  • Total Sectors Invested 7
  • Total Countries Invested 7
  • M&A Buy/Sell Connections 14
  • M&A Advisors 13

Mars

Mars, Inc.

6885 Elm Street,
McLean, Virginia 22101
United States,
(703) 821-4900
www.mars.com

Mars is a global manufacturer of confectionery, pet food, and other food products and a provider of animal care services. Mars was established in 1911 and is headquartered in McLean, Virginia.


M&A Summary

Buy vs Sell

Year ≤ '20 '21 '22 '23 '24 '25 T
Buy (1.6/yr) # 14 - 2 3 3 - 22
vol $40.1B $35.9B $76.0B
Sell (0.0/yr) # 2 - - - - - 2
  24

Most Recent M&A

Company Date Value Type
Kellanova 2024-08-14 35.9B USD Add-on Acquisition
Chicago, Illinois · www.kellanova.com
Antagene 2024-07-03 - Divestiture
La Tour de Salvagny, France · www.antagene.com
Cerba Vet 2024-05-03 - Divestiture
Massy, France · www.cerbavet.com
SYNLAB.vet GmbH 2023-08-14 - Divestiture
Augsburg, Germany
CalChef Foods LLC 2023-07-05 - Add-on Acquisition
Stockton, California · www.kevinsnaturalfoods.com
Heska Corp. 2023-04-03 - Add-on Acquisition
Loveland, Colorado · www.heska.com
Tru Fru LLC 2022-12-19 - Add-on Acquisition
Valley City, Utah · www.trufru.com
Champion Petfoods LP 2022-11-01 - Add-on Acquisition
Edmonton, Alberta · www.championpetfoods.com
KIND LLC 2020-11-17 5.0B USD Add-on Acquisition
New York, New York · www.kindsnacks.com
Mars, Inc. - Drinks Business 2018-12-27 - Divestiture
McLean, Virginia
View All >>

M&A by Sector

Sector Buy # Value Sell # Value
Food 11 (50%) 66.8B (88%) 2 (100%) -
Consumer Services 5 (23%) 9.1B (12%) - -
Consumer Products 2 (9%) - - -
Healthcare Services 1 (5%) - - -
Life Science 1 (5%) - - -
Medical Products 1 (5%) - - -
Technology Hardware 1 (5%) 119M (< 1%) - -
Total 22 $76.0B 2 -

By Geo

State/Country Buy Value Sell Value
United States 15 76.0B 2 -
  California 3 9.2B - -
  Tennessee 2 - 1 -
  Illinois 2 58.9B - -
  Utah 1 - - -
  Oregon 1 - - -
  Ohio 1 - - -
  New York 1 5.0B - -
  Connecticut 1 - - -
  Colorado 1 - - -
  Virginia - - 1 -
France 2 - - -
Canada 1 - - -
  Alberta 1 - - -
Germany 1 - - -
Mexico 1 - - -
Sweden 1 - - -
United Kingdom 1 - - -
Domestic 15 (68%) 76.0B (100%) 2 (100%) -
Cross-border 7 (32%) - - -
Total 22 $76.0B 2 -

Top M&A Advisors

Financial Deals
J.P. Morgan Securities
3
Citi
2
Morgan Stanley
2
Legal Deals
Skadden, Arps, Slate, Meagher & Flom
6
Simpson Thacher & Bartlett
3
ArentFox Schiff
1

Deal Values

buy # Total
> $1B 5 $75.9B
$100M to $1B 1 $119M
TOTAL $76.0B
Largest Kellanova
$35.9B (2024-08-14)

M&A Connections

Deals
Acquired from
Investor(s)
27%
6 (27%)
Strategic(s)
14%
3 (14%)
Divested to
Investor(s)
50%
1 (50%)
Strategic(s)
50%
1 (50%)

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