The Pringles maker's place in the S&P 500 will be taken by investment giant Ares. Its shares soared
Kellanova, the owner of the Pringles brand, will leave the underlying index this week amid a merger with Mars
Investment company Ares Management will enter the S&P 500 this week, replacing Kellanova, owner of Pringles, Cheez-It, Pop-Tarts and other snack food brands. Kellanova will leave the U.S. stock index on the day the acquisition of its assets by Mars Corporation closes.
Details
Ares shares are scheduled to appear in the S&P 500 on Dec. 11 before trading opens in New York, according to Barron's. Ares' current capitalization of $54 billion makes it one of the most expensive U.S. public companies outside the index. Analysts named it among the top candidates for inclusion in the underlying benchmark when it was rebalanced on Friday, Dec. 5. However, Ares was then outperformed by automotive marketplace Carvana, building materials supplier CRH and service provider Comfort Systems USA. On the next trading day, December 8, quotations of Comfort Systems went into negative by 1.2% amid a pullback in the U.S. stock market, while the securities of Carvana and CRH soared by 12% and 5.9%, respectively.
The announcement of Ares' inclusion in the S&P 500 also supported the company's securities. At the pre-market on December 9, they jumped by more than 8%, fully recovering the 7% drawdown since the beginning of 2025.
Context
Ares is a large US-based asset management firm. The company specializes in alternative investments (private equity, credit, real estate and infrastructure investments). The company was founded in 1997 and has additional offices in North America, Europe and Asia.
Kellanova was formed by the split of breakfast cereal manufacturer Kellogg into WK Kellogg and Kellanova in 2023. The former began to specialize in breakfast cereals for the North American market. And Kellanova got the snacks segment - Pringles chips and Pop-Tarts crackers. In 2024, Mars agreed to buy Kellanova for $36 billion. On December 8, 2025, the food giant reported that the deal was approved by the European Commission and will be closed on December 11.
This article was AI-translated and verified by a human editor
