Mars has received approval from U.S. antitrust regulators for its $36 billion acquisition of Pringles maker Kellanova, while European Union officials have launched a full investigation into the deal, citing concerns over possible price increases.
The U.S. Federal Trade Commission ended its review early, saying the deal does not violate antitrust laws. FTC Bureau of Competition Director Daniel Guarnera said the agency’s role is to block harmful deals but to allow those that meet legal standards.
Mars said it welcomed the U.S. decision and noted that only EU approval remains pending. Kellanova did not comment.
The European Commission said the acquisition could raise Mars’ power over retailers and lead to higher prices for consumers. Officials warned that the combined company might use its larger portfolio to push for higher prices during negotiations.
Retailers in several EU countries raised concerns that Mars’ stronger position could pressure them to accept increased prices to keep key products on their shelves.
The EU said Mars and Kellanova hold strong positions in snack and cereal markets and that the deal could impact price levels in countries where their products are considered essential. EU antitrust chief Teresa Ribera said the investigation is important as food prices remain high in Europe.
The Commission will make a decision by October 31.
Mars said it was disappointed with the EU’s decision to open a full review but remains confident the deal will bring more variety and innovation to consumers. The company expects to close the transaction by the end of 2025.
Mars first announced the agreement in August. The combined company would hold about 12% of the U.S. snacking and candy market. Major competitors include PepsiCo, Kraft Heinz, Mondelez, Hershey, and General Mills.
Consumer groups had earlier urged the FTC to review the deal, pointing to concerns about its possible effect on grocery prices. At the time of the announcement, some experts said Mars and Kellanova had limited overlap in their product lines.
