Mars, the parent company of numerous popular snack and snack brands, including Snickers, Kind and M&Ms, announced Wednesday that it is buying legacy snack brand Kellanova for $35.9 billion in cash.

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Kellanova is the parent company of brands like Pringles, Cheez-It, Rice Krispies Treats and Pop-Tarts and has been in business for over 100 years.

“By welcoming Kellanova's portfolio of growing global brands, we have a significant opportunity for Mars to further develop a sustainable nutrition business that is fit for the future,” said Mars Inc. CEO. Poul Weihrauch in one company release. “We have tremendous respect for the storied legacy that Kellanova has built and look forward to welcoming the Kellanova team.”

Kellanova had estimated total sales revenue of $13 billion in 2023, and two of its brands — Cheez-It and Pringles — are valued at over $1 billion each.

Mars did not say whether there would be job cuts as a result of the merger. Kellanova currently employs approximately 23,000 employees worldwide.

IN October 2023Kellogg announced that its North American cereal division would be named WK Kellogg Co., and the global snack brand would be called Kellanova, effectively splitting the company into two separate units. WK Kellogg Co. it is not part of the agreement.

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On Tuesdaybefore announcing the Kellanova acquisition, Mars said it would begin massive renovations at its global headquarters in McLean, Virginia, to accommodate sustainability and expansion.

March brought one evaluated $50 billion in revenue by 2023.