Mars is buying the maker of Pringles and Cheez-It for almost $36 billion

• Mars is buying Kellanova for almost $36 billion, making it one of the largest deals this year.
• Kellanova's big business is salty snacks including Pringles and Cheez-It.
• Mars was the "most logical" buyer given its minimal product overlap, analysts wrote.

Mars is buying foodmaker Kellanova for almost $36 billion, marking one of the biggest transactions of the year, the companies said Wednesday.

Mars is paying $83.50 a share in cash — a 44% premium on Kellanova's 30-day trading average. In early August, Reuters reported that the companies were in late-stage talks.

The acquisition brings brands like Pop-Tarts, Eggo waffles, and Pringles under the Mars umbrella, which includes candies, like M&Ms and Snickers, snacks, and pet food.