Mars-Kellanova Deal Approved by European Regulators

Mars Inc. announced that the European Commission has granted it unconditional approval to proceed with its acquisition of Kellanova — the final required regulatory step needed for the transaction first announced in August of last year (2024), for a reported $35.9 billion.

The companies received U.S. approval in June 2025, but European regulators worked on the review seemingly in fits and starts, pausing its efforts on the same day that U.S. regulators approved the deal, then pausing the process again for more information in August. In September, EU regulators picked the project back up, at which point a Dec. 19, 2025, deadline was set to reach a final decision.

The two food and snack companies expect closing of the pending transaction to occur Dec. 11, 2025, subject to customary closing conditions being met or waived. Mars will roll Kellanova’s snacking brands, as well as the Kellogg’s international cereal brands, into the its existing Snacking portfolio. That means brands such as Pringles, Cheez-Its, Pop-Tarts and Rice Krispies Treats, among others, will join Snickers, M&M’s, Twix, Skittles and a host of other Mars brands under the same umbrella.

Mars expects the combined Snacking business, behind the strength of nine billion-dollar brands, to generate about $36 billion in annual revenue. It will remain headquartered in Chicago and operate 80 global production facilities.