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Big-ticket mergers in the packaged food space over the years



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Aug 14 (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 K.N 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 2002

Britain's Cadbury Schweppes Plc agreed to buy U.S. sweet maker Adams, owner of Trident and Dentyne chewing gums and Halls cough drops, for $4.2 billion from drugmaker Pfizer PFE.N, making it the world's largest confectionary group.

Nov 30, 2007

Kraft Foods completes its acquisition of France-based Group Danone's global biscuit business 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 29, 2008

Mars created the world's largest confectionary company with its $23 billion acquisition of chewing gum manufacturer Wm Wrigley Jr Co. Combined, the two companies held 14.4% of the global confectionary market in 2006.

Jan 5, 2010

Nestle bought Kraft Foods' North American frozen pizza business for $3.7 billion and ruled out an offer for Cadbury.

Jan 19, 2010

Kraft Foods bought British candy maker Cadbury for about $19.6 billion, creating the world's biggest confectioner, and marking the largest European food and beverage deal on record, according to Thomson Reuters data.

Aug 4, 2011

Kraft Foods said it would spin-off its grocery business to focus on its snacks unit, which was seeing strong growth in emerging markets.

April 23, 2012

Nestle bought U.S. drugmaker Pfizer's infant nutrition business for $11.85 billion, beating out French rival Danone as both sought to gain a strong foothold in the baby food market.

Oct 1, 2012

Kraft Foods completes the split of its business, creating two separate companies. Mondelez International, a global snacks company, and Kraft Foods Group, which would be the North American grocery products firm.

July 2, 2015

H.J. Heinz Co, backed by Warren Buffett's Berkshire Hathaway Inc, completed its purchase of Kraft Foods 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 KHC.O, was expected to have about $28 billion of annual revenue from brands such as Oscar Mayer, Jell-O and Heinz ketchup.

Aug 29, 2016

Mondelez International abandoned its pursuit to acquire Reese's Peanut Butter Cups maker Hersheys HSY.N 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 18, 2018

Swiss food group Nestle, also the world's biggest packaged-food company, agreed to sell its U.S. confectionery business to Italy's Ferrero, maker of Nutella spread and Ferrero Rocher, for $2.8 billion.

Jan 29, 2018

Keurig Green Mountain struck a deal worth more than $21 billion to combine with soda maker Dr Pepper Snapple Group Inc to form a North American drinks company, Keurig Dr Pepper KDP.N

Feb 23, 2018

Cheerios cereal maker General Mills GIS.N bought Blue Buffalo Pet Products Inc for nearly $8 billion, foraying into a fast-growing pet food market to counter declining sales of processed foods, as consumers turned more health conscious.

Dec 11, 2019

Nestle SA agreed to sell its U.S. ice cream business to Froneri in a deal valued at $4 billion, moving control of brands including Häagen-Dazs to a joint venture the Swiss group set up in 2016.

June 21, 2022

Cadbury parent Mondelez International bought energy bar maker Clif Bar & Company for $2.9 billion, as the company continued to consolidate its global presence.

April 25, 2022

Mondelez International MDLZ.O broadened its presence in Mexico with a $1.3 billion purchase of breadmaker Grupo Bimbo's BIMBOA.MX confectionery business, Ricolino.

Dec 19, 2022

Mondelez sold its gum business, which housed brands such as Trident and Dentyne, in developed markets to European gum and confectionery maker and Mentos parent Perfetti Van Melle Group for $1.35 billion

March 12, 2024

U.S. packaged food maker Campbell Soup CPB.N completes the acquisition of Rao's Homemade-owner Sovos Brands SOVO.O in a $2.33-billion deal.

Aug 14, 2024

Snickers-maker Mars buys Pringles owner Kellanova K.N in a nearly $36 billion deal.

Source: Company releases, Reuters articles



Reporting by Juveria Tabassum; Editing by Maju Samuel

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