08/15 business briefs

Published 12:31 pm Thursday, August 15, 2024

Mars to buy snack

maker for $30B

M&M’s maker Mars is buying Kellanova, the maker of Cheez-Its and Pop-Tarts, for nearly $30 billion. The deal could significantly broaden Mars’ snacking portfolio and help it expand globally. Kellanova was created last year when the Kellogg Co. split into two companies. Chicago-based Kellanova sells many of the former company’s most profitable brands, including Pringles and Rice Krispies Treats. It had net sales of more than $13 billion last year. Mars is one of the largest privately held companies in the U.S. The deal is expected to close in the first half of next year. Kellanova would remain in Chicago, where Mars Snacking is based.

Company to

give away seeds

A major organic seed company has surprised its supporters by announcing it will end sales this month and give hundreds of varieties away. The owners of Fruition Seeds in upstate New York say seeds are a gift from nature and they don’t want to commodify them. Instead, they envision giving seeds away and relying on public goodwill to keep things running. They hope those who support their idea will donate money, talent and effort. It’s an experiment that has inspired some and bewildered others among Fruition’s friends, family, customers and neighbors.

Companies sue over

noncompete ban

The federal government wants to make it easier for employees to quit a job and work for a competitor. But some companies say a new rule created by the Federal Trade Commission will make it hard to protect trade secrets and investments they make in employees. At least three companies have sued the FTC after it voted to ban noncompete agreements, which prevent employees from working for competitors for a period of time after leaving a job. Their cases are now pending in Florida, Pennsylvania and Texas and the issue could end up in front of the U.S. Supreme Court.

Baker City opts

against gas tax

Baker City voters won’t have a chance to decide in the Nov. 5 election whether to impose a local tax on motor vehicle fuel. The city council voted 5-1 Tuesday evening, Aug. 13, not to put a proposed gas tax on the ballot.

Councilor Larry Pearson endorsed the idea of putting a measure on the ballot. Councilor Nic Carman was absent. Councilors can’t enact a fuels tax on their own — voters have the final say.

Councilors discussed the idea during their July 23 meeting, and resumed the discussion Tuesday evening. The deadline to put a measure on the ballot is Aug. 16.

Councilors heeded the advice of City Manager Barry Murphy, who recommended councilors delay any decision about putting a gas tax measure on the ballot.

— Bulletin wire reports

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