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EU Clears Mars’s $35.9 Billion Takeover of Kellanova

Regulators concluded the tie-up would not weaken competition or give Mars undue bargaining power over EU retailers.

Overview

  • The European Commission approved the merger without conditions after completing its review.
  • The inquiry examined whether Mars could use a broader product lineup to pressure supermarkets with higher prices or bundling, a concern regulators later dismissed.
  • Investigators found no significant risk to competition, noting shoppers were unlikely to switch supermarkets solely over the absence of Mars or Kellanova items.
  • The deal would combine Mars’s confectionery and pet-food brands with Kellanova’s snack portfolio, including Pringles and Cheez‑It.
  • Kellanova was created in Kellogg’s split last year, and sister company WK Kellogg remains the subject of a separate $3.1 billion takeover plan by Ferrero.