Sign In
Free Newsletter
Mars completes $36B Kellanova acquisition
McLean-based candy and pet care giant Mars announced Thursday that it has completed its $36 billion acquisition of Kellanova.
EU approves $36B Mars-Kellanova buy; deal to close this week
McLean-based candy and pet care giant Mars has received the European Union's blessing to acquire Kellanova, maker of Pringles, Cheez-Its and other snacks, in a $36 billion deal.
Mars nears EU approval for $36B Kellanova deal
McLean-based candy and snacks giant Mars' $36 billion bid to acquire Pringles and Pop-Tarts maker Kellanova is set to clear a major hurdle by winning unconditional European Union antitrust approval, three people with direct knowledge of the matter said.
Ex-Mars executive pleads guilty to $28M fraud scheme
BRIDGEPORT, Conn. (AP) — A former executive for a subsidiary of candymaker Mars Inc. pleaded guilty Thursday to fraud and tax charges in connection with his theft of $28 million from the company, federal prosecutors said. Paul Steed, 58, appeared in federal court in Bridgeport, Connecticut. He also agreed to pay $28.4 million in restitution to Mars […]
Mars to pump $2B into U.S. manufacturing
Mars announced on Tuesday that it plans to invest $2 billion in its U.S. manufacturing operations throughout the country by the end of 2026.
Top Five: August 2025
The top five most-read daily news stories on VirginiaBusiness.com from June 10 through July 10 included news of University of Virginia President Jim Ryan’s resignation amid federal pressure over university DEI policies. 1 | Buc-ee’s opens first Virginia location in Mount Crawford Some fans camped out overnight and some drove from as far away as […]
EU opens investigation into $35.9B Mars-Kellanova merger; FTC approves deal
The European Union's antitrust watchdog organization has opened an in-depth investigation into Mars' proposed $35.9 billion acquisition of Kellanova
Report: EU set to launch antitrust probe of $35.9B Mars-Kellanova deal
The European Union's antitrust watchdog is expected to launch a full-scale investigation into Mars' $35.9 billion acquisition of Kellanova.
EU regulators to decide on Mars-Kellanova merger in June
Antitrust regulators with the European Union have set a June 25 deadline to decide whether to approve McLean-based candymaker and pet care giant Mars' $35.9 billion acquisition of snack producer Kellanova, announced last August.
Former exec of Mars candy subsidiary charged with stealing $28M from company
HARTFORD, Conn. (AP) — Before his arrest Wednesday, Paul Steed was a respected sugar market expert for a subsidiary of famed candymaker Mars Inc. He served on a U.S. trade advisory committee for sweeteners as well as on industry group boards, while giving presentations at conferences. Now Steed, of Stamford, Connecticut, is accused in a […]
These six Va. billionaires made Forbes’ 2024 richest Americans list
Six Virginia billionaires are among the 400 richest Americans, according to Forbes’ annual ranking, which the media company released Tuesday. To make the Forbes 400 list, U.S. citizens had to have a minimum net worth of $3.3 billion — an increase of $400 million over 2023’s list. Collectively, the members of this elite club are […]
Mars to purchase Cheez-It, Pop-Tarts maker in $35.9B deal
Updated Aug. 16 McLean-based snack and pet care giant Mars announced Wednesday it has entered into a $35.9 billion, all-cash deal to purchase Kellanova, the maker of Cheez-It, Pop-Tarts, Pringles, Eggo and other food brands. Kellanova, created in October 2023 when Kellogg split into two companies, had 2023 net sales of more than $13 billion, […]
