This past week there were two major acquisitions in the food industry — Mars will be acquiring snack maker Kellanova in one announcement while food distributors Performance Food Group has entered into an agreement to combine with Cheney Brothers.

Mars to Acquire Kellanova
Mars and Kellanova announced that they have entered into a definitive agreement under which Mars has agreed to acquire Kellanova for $83.50 per share in cash, for a total consideration of $35.9 billion, including assumed net leverage.
Acquisition ● Food & Beverage ● North America

Performance Food Group Company Announces Agreement to Acquire Cheney Bros, Inc.
Performance Food Group Company announced it has entered into a definitive agreement with Cheney Bros., Inc., pursuant to which PFG will acquire Cheney Brothers for $2.1 billion in cash.
Acquisition ● Retailers & Wholesalers ● North America