European Commission pauses antitrust review into Mars’ US$36B Kellanova acquisition deal
The European Commission aims to ensure fair competition in the market and protect consumers from impacts such as inflated prices.
BELGIUM – The European Commission has suspended its antitrust investigation into Mars Incorporated’s proposed US$36 billion acquisition of Kellanova, citing a delay in receiving critical data from the companies involved.
The pause, confirmed on July 30, 2025, comes amid growing scrutiny over the potential market impact of one of the largest food industry mergers in recent history.
The deal, first announced in 2024, would unite Mars’ powerhouse brands, such as M&M’S, SNICKERS, and Whiskas, with Kellanova’s portfolio, which includes Pringles, Pop-Tarts, Rice Krispies, and Kellogg’s cereals.
If completed, the merger would consolidate a significant share of the global snacking and breakfast foods market under a single corporate umbrella.
The European Commission, which serves as the EU’s competition watchdog, aims to ensure fair competition in the market and protect consumers from impacts such as inflated prices.
The EU launched a full-scale investigation last month to assess whether the merger could lead to higher prices for consumers or reduced competition in key product categories.
Concerns have been raised about Mars’ already dominant market position in several EU countries, particularly in confectionery and pet food segments.
According to a statement from the Commission, the investigation “clock” has been paused due to the companies’ failure to submit requested information within the prescribed deadline.
The review will resume once the data is received, and a new decision deadline will be set, replacing the original October 31 target.
Meanwhile, the deal has already cleared regulatory hurdles in the United States. The Federal Trade Commission (FTC) approved the acquisition in June 2025, concluding that it did not violate U.S. antitrust laws.
Mars expressed optimism following the FTC’s decision, stating that the merger would “deliver more choice and innovation to consumers” and strengthen its global footprint.
However, the EU’s investigation remains a critical hurdle. European retailers and consumer advocacy groups have voiced concerns that the merger could give Mars excessive negotiating power, potentially leading to price hikes and limited shelf space for competing brands.
Mars has not yet offered remedies to address these concerns, and analysts suggest that the Commission may require transfer of ownership or other concessions before approving.
The delay adds uncertainty to the timeline, with Mars previously indicating it hoped to close the deal by late 2025.
Until further documentation is provided, the European Commission’s assessment and ultimately, the outcome of the Mars-Kellanova merger, remain unresolved.
The outcome could reshape the competitive landscape of the global food industry, influencing everything from snack aisles to breakfast tables across Europe.
Meanwhile, recently, Mars announced a bold US$2 billion investment to expand its U.S. manufacturing operations by the end of 2026.
Additionally, the global consumer sector noted a reshuffling of ranks in mergers and acquisitions (M&A), with Mars’ anticipated US$36 billion acquisition of Kellanova playing a significant role in boosting Goldman Sachs to a top-tier advisory position.
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