EU regulators resume antitrust review of Mars–Kellanova US$36B deal
Officials are also examining the broader impact on innovation and product choice within the snacks and packaged foods sector.
EUROPE – EU antitrust regulators have restarted their investigation into Mars’ proposed US$36 billion acquisition of Pringles maker Kellanova, setting December 19, 2025, as the deadline for a decision.
The review, led by the European Commission, follows the suspension of the probe in late July, when regulators requested additional information from the companies. The pause left the process on hold for several weeks before its official resumption in September.
The Commission opened a full-scale investigation in June, warning that the deal could raise competition concerns.
Regulators are assessing whether the merger might lead to higher prices for consumers and give Mars stronger negotiating leverage with retailers in Europe.
Officials are also examining the broader impact on innovation and product choice within the snacks and packaged foods sector, where both Mars and Kellanova already hold influential positions.
The proposed deal ranks among the largest transactions in the global consumer goods industry.
If approved, it would bring together Mars’ extensive portfolio of confectionery and pet care brands, including M&M’s, Snickers, and Whiskas, with Kellanova’s stable of well-known labels such as Pringles, Pop-Tarts, and Kellogg’s cereals.
Industry observers suggest the combination would create a formidable player spanning multiple food categories, from chocolates and savory snacks to breakfast and pet nutrition.
While the United States granted unconditional approval for the transaction earlier this year, the European Commission has adopted a more cautious stance.
Competition regulators in Brussels have signaled that the deal’s scale and potential influence on European markets demand closer scrutiny than in other jurisdictions.
The final verdict, expected by December 19, will be pivotal. A green light from the Commission would allow Mars to proceed with one of the boldest expansions in its history, cementing its status as a global snacks powerhouse.
However, if regulators conclude that the merger poses significant risks to competition, they may impose remedies, such as divestitures, or block the deal altogether.
For now, the resumed review underscores the high stakes of this landmark transaction. The decision in Brussels will shape not only the future of Mars and Kellanova but also the broader competitive landscape of the European food and snack industry.
It comes just weeks after Mars announced a US$1.07 billion investment to strengthen its European manufacturing and innovation capabilities, highlighting the company’s long-term.
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