Confectionery Giant Mars To Acquire Cheez It Parent Kellanova In $35.9B Deal
Confectionery Giant Mars To Acquire Cheez It Parent Kellanova In $35.9B Deal
Kellanova (NYSE:K) shares are trading higher on Wednesday after Mars, Inc. agreed to acquire the company for $83.50 per share, valuing it at $35.9 billion, including assumed net leverage.
Mars公司同意以每股83.50美元的價格收購Kellanova（紐交所：K）股票，其價值包括承擔的淨槓桿，總數達359億美元，該股票正處於高位。股票交易價格高於其30日平均交易價格44％，並高於其2024年8月2日的52周高位33％。
The transaction price of $83.50 per share for Kellanova reflects a 44% premium over its 30-day average trading price and a 33% premium over its 52-week high as of August 2, 2024.
以83.50美元/股的交易價格計，對於Kellanova而言，反映了其過去30天已調整的平均交易價格的44％溢價，以及截至2024年6月29日作爲其52周高點的33％溢價。
The deal values Kellanova at 16.4 times its last twelve months adjusted EBITDA as of June 29, 2024.
該交易以Kellanova 過去12個月的調整後的EBITDA爲基礎的16.4倍估值。
Mars plans to finance the acquisition with a mix of cash reserves and new debt, with commitments already secured.
Mars計劃通過現金儲備和新增債務進行收購，已經擁有承諾。
The acquisition includes all of Kellanova's brands, assets, and operations, covering its snacking brands, international cereal and noodles, North American plant-based foods, and frozen breakfast products.
本次收購包括Kellanova的所有品牌、資產和運營，涵蓋小吃品牌、國際麥片和麪條、北美植物性食品以及冷凍早餐產品。
The Kellanova Board of Directors has unanimously approved the agreement. The transaction, pending shareholder and regulatory approvals, is expected to close in the first half of 2025.
Kellanova的董事會已經一致同意該協議。該交易預計將於2025年上半年完成，需股東和監管機構批准。
Kellanova is allowed to declare and pay quarterly dividends as usual before the transaction closes.
在交易完成之前，Kellanova可以按照慣例宣佈並支付季度股息。
Notably, in October 2023, Kellanova, which has the global snacking, international cereal and noodles, plant-based foods, and North American frozen breakfast business, completed its separation from WK Kellogg Co (NYSE:KLG).
值得注意的是，在2023年10月，擁有全球小吃、國際麥片和麪條、北美植物性食品和冷凍早餐業務的Kellanova公司已經與Wk Kellogg Co（紐交所：KLG）分離。
Kellanova's portfolio, including brands like Pringles and Cheez-It, will complement Mars' existing brands, such as SNICKERS, M&M'S, and KIND, as well as its pet care brands, including ROYAL CANI and PEDIGREE.
Kellanova的組合包括像Pringles和Cheez-It這樣的品牌，將補充Mars既有品牌，例如SNICKERS，M&M'S和KIND，以及其寵物護理品牌，包括ROYAL CANI和PEDIGREE。
Steve Cahillane, Chairman, President and CEO of Kellanova, added, "This is a truly historic combination with a compelling cultural and strategic fit. Kellanova has been on a transformation journey to become the world's best snacking company, and this opportunity to join Mars enables us to accelerate the realization of our full potential and our vision."
Kellanova 監事會董事長、總裁兼CEO Steve Cahillane補充道：「這是一次真正歷史性的組合，具有引人入勝的文化和戰略契合。 Kellanova 正處於變革之旅中，力求成爲世界上最好的小吃公司，加入 Mars 的機會使我們能夠加速實現我們的全部潛力和願景。」
"The transaction maximizes shareholder value through an all-cash transaction at an attractive purchase price and creates new and exciting opportunities for our employees, customers, and suppliers."
「該交易通過以有吸引力的購買價格進行全現金交易最大化了股東價值，併爲我們的員工、客戶和供應商創造了新的令人興奮的機會。」
Andrew Clarke, Global President of Mars Snacking, commented, "This is an exciting opportunity to create a broader, global snacking business, allowing Kellanova and Mars Snacking to both achieve their full potential. Kellanova and Mars share long histories of building globally recognized and beloved brands. The Kellanova brands significantly expand our Snacking platform, allowing us to even more effectively meet consumer needs and drive profitable business growth."
Mars小吃品全球總裁Andrew Clarke表示：「這是一個令人興奮的機會，可以打造一個更廣泛、更全球的小吃業務，使Kellanova和Mars Snacking都能實現其全部潛力。Kellanova和Mars共享構建全球公認和心愛品牌的長期歷史。 Kellanova 品牌極大地擴展了我們的小吃平台，使我們能夠更有效地滿足消費者的需求並推動盈利業務增長。」
The W.K. Kellogg Foundation Trust and the Gund Family have committed to vote shares representing 20.7% of Kellanova's common stock in favor of the transaction as of August 9, 2024.
截至2024年8月9日，W.k. Kellogg 基金會信託和 Gund 家族已承諾投票支持Kellanova普通股的20.7％，以支持交易。
Investors can gain exposure to the stock via First Trust Nasdaq Food & Beverage ETF (NASDAQ:FTXG) and iShares Emergent Food and AgTech Multisector ETF (NASDAQ:IVEG).
投資者可以通過First Trust Nasdaq食品飲料ETF （納斯達克：FTXG）和iShares Emergent食品和AgTech多區域ETF (納斯達克:IVEG)獲取該股票。
Price Action: K shares are up 7.54% at $80.12 premarket at the last check Wednesday.
K股票價格在上週三最後一次檢查時預市上漲7.54%，至每股80.12美元。
- Packaged Food Sector To See Mixed Performance Amid Economic Headwinds: Goldman Sachs
- 在經濟逆風中，包裝食品板塊將會表現不一：高盛
Photo courtesy: Kellanova
圖片提供：Kellanova
譯文內容由第三人軟體翻譯。