Mars is poised to finalize its $36 billion acquisition of Kellanova on December 11, following a green light from the European Union — the last of 28 regulatory clearances required for the mega-merger. The EU concluded the deal would not harm competition or lead to higher consumer prices.
The acquisition, first announced in August 2024, gives Mars ownership of iconic snack brands including Pringles, Cheez-It and Pop-Tarts, strengthening its foothold in the global snacking arena. The transaction had been delayed after EU regulators launched an antitrust probe earlier this year.
Once completed, the Mars–Kellanova merger will mark the largest food and beverage consolidation since the 2015 Kraft Heinz tie-up. The combined business is expected to generate about $36 billion in annual revenue and house nine brands with sales exceeding $1 billion each — from M&Ms and Snickers to Pringles and Rice Krispies Treats.
Andrew Clarke, global president of Mars Snacking, said the merger creates “a shared, global snacking leader” with complementary strengths across sweet and savory categories. Mars will also gain deeper geographic reach, leveraging Kellanova’s stronger presence in markets such as Africa.
Industry analysts say the deal significantly boosts Mars’ competitiveness against major rivals like PepsiCo and Mondelēz International. Greater scale and a broader brand portfolio are expected to fuel innovation, with Kellanova CEO Steve Cahillane previously hinting at crossover concepts such as M&M’s Pop-Tarts.
The combined company is expected to accelerate growth in snacking while responding to rising consumer demand for healthier, value-driven options.