Who Owns Rice Krispies Treats?
Rice Krispies Treats is owned by Mars, Incorporated through its Kellanova subsidiary, following Mars' $36 billion acquisition of Kellanova completed on December 11, 2025. Kellogg employees Mildred Day and Malitta Jensen invented the confection in the company's Battle Creek test kitchens in 1939, and Kellogg began producing the packaged bars commercially in 1995. The bars are sold as Squares in the United Kingdom and as LCMs in Australia.
Rice Krispies Treats Timeline
Who Owns Rice Krispies Treats?
- Parent Company: Mars, Incorporated
- Ownership Type: Wholly owned
- Acquisition Year: 2025
- Company Type: Privately Held
| Brand | Parent Company | Ownership Type |
|---|---|---|
| Rice Krispies Treats | Mars, Incorporated | Wholly owned |
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History of Rice Krispies Treats
- Founded: 1939
- Founders: Mildred Day, Malitta Jensen
- Acquired by Mars, Incorporated: 2025
The recipe was created in 1939 by two Kellogg Company employees, Mildred Day and Malitta Jensen, working in the test kitchens in Battle Creek, Michigan. Kellogg wanted new uses for Rice Krispies cereal, then about a decade old. The pair produced a confection of crisped rice bound with melted marshmallow, adapting the concept of popcorn balls sold at county fairs.
A Campfire Girls troop in the Kansas City area gave the recipe its first real-world test around 1940, when Day spent two weeks producing batches that the girls sold door to door as a fundraiser. Kellogg began printing the recipe on Rice Krispies boxes in 1941, initially under the name Rice Krispies Marshmallow Squares, and it spread through newspaper columns and women's magazines across the country.
For five decades the product existed mainly as a home recipe. Kellogg began manufacturing the treats commercially in 1995, selling ready-made bars in the United States and Mexico. Internationally the line uses different names: Squares in Canada, the United Kingdom, and Ireland, and LCMs in Australia and New Zealand.
The brand expanded steadily after 1995. Variants now include chocolate-drizzled and flavored bars, Bites launched in 2019, and Homestyle bars introduced in 2021 at roughly one and a half times the size of the original. The product also exists as a cereal, Rice Krispies Treats cereal, first sold in 1993.
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When Kellogg split in 2023, the Treats snack line went to Kellanova rather than WK Kellogg Co, since it was classified with the snacks business rather than North American cereal. Mars acquired Kellanova in December 2025.
About Mars, Incorporated
What does Mars, Incorporated own?
Mars owns a portfolio of approximately 50+ brands across pet care, confectionery, savory snacks, and food categories. Its most recognized brands include M&M's, Snickers, Twix, Pedigree, Whiskas, Royal Canin, Pringles, Cheez-It, and Pop-Tarts. The company also owns the world's largest veterinary hospital network through Banfield, BluePearl, and VCA. The Kellanova acquisition in December 2025 added Pringles, Cheez-It, Pop-Tarts, RXBAR, and Kellogg's cereal brands to the portfolio.
Is Mars, Incorporated publicly traded?
No, Mars, Incorporated is entirely privately held by the Mars family. The company has never been publicly traded and has no stock exchange listing. This private ownership structure has been a consistent feature since the company's founding in 1911 and is enshrined in the company's Five Principles as the principle of "Freedom."
Who founded Mars, Incorporated?
Mars was founded by Frank C. Mars in 1911 in Tacoma, Washington. Frank Mars started the company producing butter cream candies. His son, Forrest Mars Sr., later joined the business and drove its global expansion, developing M&M's in 1941 and establishing Mars operations in the United Kingdom. The Mars family has maintained ownership and control across multiple generations.
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Where is Mars, Incorporated headquartered?
Mars, Incorporated is headquartered in McLean, Virginia, USA, in the Washington metropolitan area. The Mars Snacking division is headquartered in Chicago, Illinois, following the Kellanova acquisition. The company operates manufacturing facilities and offices in more than 80 countries worldwide.
How many brands does Mars, Incorporated own?
Mars owns approximately 50+ brands across its four primary segments. The portfolio includes 9 billion-dollar brands in snacking alone (M&M's, Snickers, Twix, Skittles, Pringles, Cheez-It, Pop-Tarts, Kellogg's, and Dove/Galaxy), plus major pet care brands including Pedigree, Whiskas, and Royal Canin. The company also operates veterinary service brands including Banfield, VCA, and BluePearl.
Who owns Mars, Incorporated?
Mars, Incorporated is owned entirely by the Mars family, descendants of founder Frank Mars and his son Forrest Mars Sr. The family has maintained complete ownership across multiple generations, making Mars one of the world's largest family-owned businesses. No external investors, private equity firms, or public shareholders hold equity in the company.
What was Mars's largest acquisition?
Mars's largest acquisition was the $36 billion purchase of Kellanova, completed on December 11, 2025. Kellanova's portfolio included Pringles, Cheez-It, Pop-Tarts, RXBAR, and Kellogg's international cereal brands. The deal created a combined Mars Snacking division generating approximately $36 billion in annual revenue. Prior to Kellanova, Mars's largest acquisition was the approximately $23 billion purchase of Wrigley in 2008.
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What is Mars's annual revenue?
Mars generates approximately $65 billion in annual revenue (FY2025, estimated). The company does not publicly disclose detailed financial results because it is privately held. Revenue estimates come from company press releases, credit rating agencies, and reputable business press. Following the Kellanova acquisition, Mars's snacking division alone generates approximately $36 billion in annual revenue.
- Founded: 1911
- Headquarters: McLean, Virginia, USA
- Company Type: Privately Held
- Revenue: approximately $65 billion (FY2025, estimated)
- Employees: approximately 170,000
Where Is Rice Krispies Treats Made / Based?
- Headquarters: Chicago, Illinois, USA
- Manufacturing / Operations: United States
Rice Krispies Treats Categories & Tags
Brands Owned by Mars, Incorporated
Food BeverageCelebrations
Owned by Mars, Incorporated
British chocolate assortment brand featuring a variety of chocolate candies, owned by Mars, Incorporated and distributed globally.
chocolateassortmentcandies
Food BeverageCheez-It
Owned by Mars, Incorporated
American brand of cheese cracker snacks owned by Mars, Incorporated through its Kellanova subsidiary. Created in 1921 in Dayton, Ohio.
snackscrackerscheese
Food BeverageEggo
Owned by Mars, Incorporated
American frozen waffle brand created in 1953, owned by Mars, Incorporated through its Kellanova subsidiary since December 2025.
frozen-wafflesbreakfastfrozen-food
Food BeverageGalaxy Chocolate
Owned by Mars, Incorporated
British chocolate brand owned by Mars, Incorporated, known for smooth and creamy chocolate bars and confectionery products.
chocolatechocolate-barsconfectionery
Pet CareIams
Owned by Mars, Incorporated
American pet food brand known for premium dog and cat food formulations, owned by Mars Petcare since 2014.
pet-fooddog-foodcat-food
Food BeverageM&M's
Owned by Mars, Incorporated
Candy-coated chocolate confections produced by Mars, Incorporated, one of the world's best-selling candy brands since 1941.
candychocolateconfectionery
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Rice Krispies Treats Ownership: Pros & Cons
Advantages
- +Mars has deep expertise in shelf-stable sweet snacks and a convenience-store network that suits single-serve bar sales.
- +The brand sits naturally alongside M&M's and Snickers in Mars Snacking's portfolio rather than competing for attention with cereal.
- +International versions under Squares and LCMs give Mars existing global infrastructure to build on.
Considerations
- -The brand depends on a trademark relationship with the cereal it is named after, which in North America is owned by rival Ferrero's WK Kellogg Co.
- -Homemade substitution is constant; consumers can always make the product themselves.
- -Sugar-reduction pressure on kids' snacks is a long-term regulatory and reputational headwind.
Sources & Further Reading
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Competitors to Rice Krispies Treats
No direct competitors found in the same category. This could be because Rice Krispies Treatsoperates in a unique market segment or we're still building our competitor database.
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Aero is owned by Nestlé S.A., a public company, a different structure than Rice Krispies Treats's parent.
Food BeverageCadbury
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Cadbury is owned by Mondelez International, Inc., a public company, a different structure than Rice Krispies Treats's parent.
Food BeverageKitKat
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Chocolate-covered wafer bar created by Rowntree's in 1935, owned globally by Nestle S.A. and licensed to The Hershey Company in the United States under a perpetual agreement.
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KitKat is owned by Nestlé S.A., a public company, a different structure than Rice Krispies Treats's parent.
Food BeverageReese's
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Hershey's peanut butter cup brand created by former employee H.B. Reese in 1928, now the top-selling candy brand in the United States.
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Reese's is owned by The Hershey Company, a public company, a different structure than Rice Krispies Treats's parent.
Food BeverageA&W Root Beer
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Classic American root beer brand founded in 1919, owned by Keurig Dr Pepper (NYSE: KDP) and sold across North America in retail and foodservice channels.
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Publicly Traded
A&W Root Beer is owned by Keurig Dr Pepper, a public company, a different structure than Rice Krispies Treats's parent.
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