Mars, a U.S.-based consumer goods company with operations in candy, pet care, and packaged foods, has received clearance from the Federal Trade Commission (FTC) to proceed with its proposed $35.9 billion acquisition of snack maker Kellanova. The FTC concluded that the transaction does not violate antitrust laws. FTC Director of the Bureau of Competition Daniel Guarnera commented, “After nearly a year of investigation, dozens upon dozens of interviews with non-parties at all levels of the supply chain (including large chains and small, independent businesses), extensive data analysis, sworn testimony from party witnesses, and the review of hundreds of thousands of documents, staff found that the evidence pointed in one direction: this transaction does not meet the standard for an anticompetitive merger set by Section 7 of the Clayton Act.”
While the U.S. has approved the transaction, the European Commission continues its review, citing concerns that Mars' expanded product portfolio could increase consumer prices. Guarnera further added, “Our job is to determine whether there is a violation of American law that we can prove in court. And once we’ve concluded there is not, our job is to get out of the way.” Mars expects the deal to close by late 2025. Teresa Ribera, European Commission Executive Vice President, said that it was essential to ensure the acquisition would not further increase the cost of shopping baskets. The review deadline is set for October 31, 2025. Kellanova, formed from Kellogg’s 2023 split, would bring brands like Pringles and Pop-Tarts under Mars’ snacking division.
