M&A Roundup: Biggest Brand Acquisitions of January 2026
January 2026 saw over $50 billion in M&A deals. From Clorox buying Purell to major energy and tech deals, here is every deal that matters for consumers.
A Strong Start to 2026 Dealmaking
January 2026 opened with renewed confidence in the M&A market. Over $50 billion in announced deals signaled that the dealmaking momentum from late 2025 is carrying into the new year. While many of the largest transactions were in energy, healthcare, and financial services, several deals have direct implications for consumer brands and the products on your shelves.
This monthly roundup covers the most significant M&A activity from January 2026, with a focus on deals that affect the brands consumers interact with daily.
The Headline Deal: Clorox Acquires Purell Maker Gojo Industries
Deal Value: Over $2 billion Announced: January 2026
Clorox agreed to acquire Gojo Industries, the maker of Purell hand sanitizer, for more than $2 billion. This deal significantly expands Clorox's Health and Wellness segment, which the company has identified as its fastest-growing and most profitable operating division.
Purell became a household name during the COVID-19 pandemic, when demand for hand sanitizer surged globally. While sales have normalized since the pandemic peak, Purell remains the dominant hand sanitizer brand in the U.S. with an estimated 70%+ market share in the category.
Linda Rendle, chair and CEO of Clorox, described the acquisition as one that "evolves our portfolio and scales our fastest growing, most profitable operating segment" as part of the company's IGNITE strategy.
Why it matters for consumers: Clorox already owns Pine-Sol, Glad, Brita, and Burt's Bees. Adding Purell creates a comprehensive cleaning and hygiene portfolio. Expect Purell to gain even wider distribution through Clorox's established retail relationships.
Deals Still Reverberating from Late 2025
Several massive deals that closed or were announced in late 2025 continued to reshape the consumer landscape in January 2026:
Mars Completes $36 Billion Kellanova Acquisition
Mars, Incorporated officially completed its acquisition of Kellanova on December 11, 2025. The $36 billion deal was the largest consumer goods transaction of the year and transformed Mars from primarily a confectionery and pet care company into a global snacking powerhouse.
- Pringles (chips)
- Cheez-It (crackers)
- Pop-Tarts (toaster pastries)
- Rice Krispies Treats (snack bars)
- Eggo (frozen waffles)
- MorningStar Farms (plant-based)
- Nutri-Grain (cereal bars)
In January 2026, Mars began the integration process, combining Kellanova's snack operations with its existing confectionery business (Snickers, M&M's, Skittles) and pet care division (Pedigree, Whiskas). Industry analysts expect Mars to focus on international expansion of Kellanova brands, particularly Pringles and Cheez-It, leveraging Mars' existing distribution network in over 80 countries.
Sycamore Partners and Walgreens Boots Alliance
The take-private deal between Sycamore Partners and Walgreens Boots Alliance, valued at approximately $24 billion, continued moving through regulatory review in January 2026. If completed, it would be one of the largest retail take-private transactions in history. The deal reflects the ongoing challenges facing brick-and-mortar pharmacy chains and the growing role of private equity in retail restructuring.
Blackstone and Jersey Mike's
Blackstone's approximately $8 billion acquisition of Jersey Mike's, announced in late 2024, continued through its integration phase in January. The deal valued the sandwich franchise at roughly 17x revenue, one of the highest multiples ever paid for a restaurant chain. Jersey Mike's operates over 3,000 locations in the U.S. and plans aggressive expansion under Blackstone's ownership.
Major January 2026 Deals by Sector
Healthcare and Medical Devices
Boston Scientific acquires Penumbra for $14.5 billion. This was the largest deal announced in January 2026. Boston Scientific, the medical device manufacturer, is acquiring Penumbra to expand its neurovascular and interventional device portfolio. While not a consumer brand, this deal reflects the ongoing consolidation in healthcare technology.
Mitsubishi Corporation (Berkshire Hathaway-backed) acquires Aethon Energy Management for $7.5 billion. Berkshire Hathaway continues its energy sector investments through this deal, strengthening Mitsubishi's North American natural gas position.
Financial Services and Fintech
Deutsche Borse acquires Allfunds for $6.3 billion. This European financial infrastructure deal consolidates fund distribution platforms.
Capital One acquires Brex for $5.15 billion. Capital One is buying the AI-driven fintech company to accelerate its expansion into business payments, corporate cards, and expense management. Brex's technology is expected to enhance Capital One's commercial banking capabilities.
Energy
Vistra Energy acquires Cogentrix Energy for $4 billion. Vistra is adding 10 gas plants totaling nearly 5,500 megawatts, strengthening its position in the U.S. power market as data center demand drives electricity needs.
Talen Energy acquires 2.6 GW of gas plants for $3.45 billion. Another energy consolidation deal driven by increasing power demand from data centers and AI infrastructure.
Manufacturing and Industrials
Worthington Steel acquires Kloeckner & Co for $2.4 billion. This creates a transatlantic metals processing and distribution leader with combined annual revenue exceeding $9.5 billion.
Leidos acquires ENTRUST Solutions Group for $2.4 billion. Leidos is expanding its infrastructure engineering and utilities consulting capabilities, doubling the size of its $600 million energy infrastructure engineering business.
Consumer Brand Implications
While January's largest deals were concentrated in healthcare, energy, and financial services, several trends have direct implications for consumer brands:
1. The Data Center Boom Is Driving Energy M&A
Multiple energy deals in January were explicitly tied to growing power demand from data centers and AI infrastructure. Talen Energy's CEO cited "significant data center tailwinds" as a driver for their $3.45 billion acquisition. This matters for consumers because the companies powering AI services (cloud providers like AWS, Azure, and Google Cloud) are indirectly driving energy consolidation that affects electricity prices and grid reliability.
2. Private Equity Remains Aggressive in Consumer Sectors
The Blackstone/Jersey Mike's and Sycamore/Walgreens deals from late 2025 continued their integration in January. PE firms currently hold an estimated $2.5 trillion in dry powder (uninvested capital), according to Preqin, suggesting more consumer brand acquisitions are likely throughout 2026.
3. Health and Hygiene Consolidation Continues
Clorox's acquisition of Purell reflects a broader trend of cleaning and hygiene companies consolidating after the pandemic. Companies that saw demand spikes during COVID-19 are now being rolled into larger portfolios as the market normalizes.
4. The Mars-Kellanova Integration to Watch
- Will Mars maintain all Kellanova brands or divest some?
- How will Mars' manufacturing and distribution be restructured?
- Will pricing change for Pringles, Cheez-It, and other Kellanova brands?
Looking Ahead: Deals to Watch in 2026
Based on current market conditions and analyst reports, several types of deals are expected to dominate the rest of 2026:
Consumer health spinoffs. Following J&J/Kenvue (2023), GSK/Haleon (2022), and Sanofi/Opella (2024), more pharma companies may separate their consumer health divisions.
AI-related acquisitions. Tech companies will continue acquiring AI startups and capabilities. Alphabet's $32 billion Wiz acquisition in 2025 set a new bar for cybersecurity/AI deals.
Restaurant consolidation. Private equity firms continue rolling up restaurant chains. The success of Inspire Brands (Dunkin', Arby's, Sonic) has encouraged similar multi-brand strategies.
Beauty brand acquisitions. L'Oreal, Estee Lauder, and Unilever remain active scouts for high-growth indie beauty brands, particularly in clean beauty, skincare technology, and inclusive cosmetics.
Retail restructuring. More traditional retailers may face take-private deals or bankruptcy-driven acquisitions as the shift to e-commerce and changing consumer habits continue to pressure physical retail.
Frequently Asked Questions
What was the biggest deal in January 2026?
Boston Scientific's $14.5 billion acquisition of Penumbra (medical devices) was the largest announced deal in January 2026. In consumer markets, Clorox's $2 billion+ acquisition of Gojo Industries (Purell) was the most notable.
Is the Mars-Kellanova deal complete?
Yes. Mars completed the $36 billion acquisition of Kellanova on December 11, 2025. The integration process began in January 2026, with Mars combining Kellanova's snack brands with its existing portfolio.
How much M&A activity was there in January 2026?
January 2026 saw over $50 billion in announced M&A activity across all sectors, according to Intellizence data. This level of activity suggests strong dealmaking momentum for the rest of the year.
What consumer brands changed ownership in January 2026?
The most notable consumer brand deal in January 2026 was Clorox's acquisition of Gojo Industries (Purell hand sanitizer) for over $2 billion. The Mars-Kellanova integration (Pringles, Cheez-It, Pop-Tarts) also began in earnest during January.
The Bottom Line
January 2026 set a strong pace for M&A activity, with particular momentum in healthcare, energy, and financial services. For consumer brand watchers, the Clorox/Purell deal and the ongoing Mars-Kellanova integration are the most significant developments. With trillions in private equity dry powder and an active corporate acquisition environment, expect more brand ownership changes throughout 2026.
We will continue tracking the most important M&A developments in our monthly roundup series. Want to stay informed about brand ownership changes? Browse our brand database or explore companies and their portfolios.
Explore Related Brands
- Pringles - Now owned by Mars via Kellanova acquisition
- Pine-Sol - Cleaning brand owned by Clorox
- Snickers - Iconic candy bar, owned by Mars
- Tide - America's #1 laundry detergent, owned by P&G
- KitKat - Global chocolate brand, owned by Nestle
- Oreo - World's best-selling cookie, owned by Mondelez
Sources
1. Intellizence. "Top 10 Largest Global M&A Deals, January 2026." intellizence.com 2. Mars, Incorporated. "Mars Completes Acquisition of Kellanova." Press release, December 11, 2025. 3. Clorox Company. "Clorox to Acquire Gojo Industries." Press release, January 2026. 4. PwC. "Global M&A Trends in Consumer Markets: 2026 Outlook." pwc.com 5. Bain & Company. "M&A in Consumer Products: 2026 Report." bain.com 6. Preqin. "Private Equity Dry Powder Report." Q4 2025.
All brand ownership data verified through WhoBrands.com's research methodology. Last updated: February 11, 2026.
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Brands & Companies Mentioned
Pine-Sol
Owned by The Clorox Company
American cleaning products brand known for its pine-scented multi-surface cleaner and disinfectant for household and commercial cleaning applications.
Pringles
Owned by Kellogg Company
Brand of stackable potato and wheat-based snack chips known for their distinctive can packaging and saddle shape.
Snickers
Owned by Mars, Incorporated
American chocolate bar brand featuring nougat, caramel, peanuts, and chocolate, owned by Mars, Incorporated and distributed globally.
The Clorox Company
American multinational manufacturer and marketer of consumer and professional products, specializing in cleaning, disinfecting, and household products.
10 brands in portfolio
Mars, Incorporated
American multinational manufacturer of confectionery, pet food, and other food products, and one of the largest privately held companies in the world.
19 brands in portfolio
Berkshire Hathaway
American multinational conglomerate holding company led by Warren Buffett, owning diverse businesses across insurance, utilities, and manufacturing.
13 brands in portfolio