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Mars' Kellanova Acquisition Would Harm Consumers [1]
['Phoebe Galt']
Date: 2024-08-14
Post acquisition, Mars could capture half of all U.S. snack and cereal bar sales
On Wednesday, Mars Inc. announced plans to acquire Kellanova, a spin-off of Kellogg’s snack division, in a $36 billion effort to dominate the snack market. In 2022, just four corporations cornered over two-thirds of the snack and cereal bar market — Kellogg’s and Mars alone controlled 49 percent. Post acquisition, Mars could take in half of all snack and cereal bar sales, making the market highly consolidated and triggering federal review.
Research from Food & Water Watch and the Federal Trade Commission detail how growing market concentration leads to fewer consumer choices and rising food prices. As recently as 2015, a Kraft-Heinz mega-merger solidified the conglomerate’s dominance across one-fifth of food categories considered in FWW’s report.
In response, Food & Water Watch Research Director Amanda Starbuck issued the following statement:
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[1] Url:
https://www.foodandwaterwatch.org/2024/08/14/mars-kellanova-acquisition-would-harm-consumers/
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