K: Kellanova Stock Is S&P 500’s Best Performer for August with 40% Updraft on Mars Takeover
One specific event blasted Kellanova shares up by 40% in August — family-owned Mars will pull the Pringles maker into its orbit for $36 billion.
- Kellanova stock
K is the best performer in the S&P 500 for August. The parent of Pringles and Cheez-It added roughly 40% for the month, driven by one single event — an acquisition. Family-owned candy classic Mars announced early in August that it will pay $83.50 per share to take over Kellanova in an all-cash deal valued at $36 billion. The price tag represented a 33% premium to the closing price before the news got to the public. - The deal is expected to close in 2025 but not without some hindrances along the way. Regulators generally frown upon big-ticket acquisitions as they think it favors the big players in the industry. Mars, the privately-held company behind Snickers and M&M’s, generated $45 billion in revenue in 2022 — more than Coca-Cola’s $43 billion. Kellanova posted $13 billion in sales last year.
- ”Snacking is a large, attractive and durable category that continues to grow in importance with consumers,” Mars said in a statement. Kellanova, on the other hand, has been struggling to keep churning out revenue growth. Declining sales amid increased prices have made the brand lose its appeal while cost-conscious customers pivot to more attractive snacks.
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One specific event blasted Kellanova shares up by 40% in August — family-owned Mars will pull the Pringles maker into its orbit for $36 billion.
- Kellanova stock K is the best performer in the S&P 500 for August. The parent of Pringles and Cheez-It added roughly 40% for the month, driven by one single event — an acquisition. Family-owned candy classic Mars announced early in August that it will pay $83.50 per share to take over Kellanova in an all-cash deal valued at $36 billion. The price tag represented a 33% premium to the closing price before the news got to the public.
- The deal is expected to close in 2025 but not without some hindrances along the way. Regulators generally frown upon big-ticket acquisitions as they think it favors the big players in the industry. Mars, the privately-held company behind Snickers and M&M’s, generated $45 billion in revenue in 2022 — more than Coca-Cola’s $43 billion. Kellanova posted $13 billion in sales last year.
- ”Snacking is a large, attractive and durable category that continues to grow in importance with consumers,” Mars said in a statement. Kellanova, on the other hand, has been struggling to keep churning out revenue growth. Declining sales amid increased prices have made the brand lose its appeal while cost-conscious customers pivot to more attractive snacks.