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Kraft Heinz appointed former Kellanova CEO Steve Cahillane as its new chief executive, effective January 1, 2026, ahead of its planned split into two companies.
Keurig Dr Pepper announced an $18 billion acquisition of JDE Peet’s, concurrently revealing plans to split into two independent companies. This strategic restructuring aims to create a focused global coffee leader and a separate North American beverage powerhouse.
Mars will acquire global snack company Kellanova in an all-cash deal valued at $83.50 per share. The transaction price is positioned at the midpoint of Kellanova's estimated fair value, signaling a strategic move that could impact valuations across the packaged food sector.
Ares Management will join the S&P 500 index, replacing Kellanova, a move that prompted an immediate 7.5% increase in Ares's stock price during after-hours trading. This inclusion signals significant institutional demand as index-tracking funds are now mandated to acquire the shares.