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Mars’ $36 Billion Pringles Deal Likely to Face EU Antitrust Scrutiny

By  |  June 18, 2025

Mars’ proposed $36 billion acquisition of Kellanova, the company behind Pringles, is expected to be subject to a comprehensive antitrust investigation by European regulators, according to Reuters. Sources familiar with the matter indicate that the European Commission is poised to initiate a full-scale probe due to potential competition issues in certain EU countries.

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    The European Commission, which enforces antitrust rules across the 27-member European Union, is reportedly concerned that the merger could lead to excessive market concentration in specific product categories. According to Reuters, Mars’ significant market presence in various segments — particularly confectionery and other packaged goods — has raised alarms among regulators who fear the deal could diminish competition.

    Mars, a family-owned U.S. conglomerate known for brands like M&Ms and Snickers, announced its intention to acquire Kellanova last August. The merger would unite an expansive portfolio of popular consumer brands, including Pringles, Pop-Tarts, and Kellogg’s cereals, under one corporate umbrella.

    Related: Mars Eyes $27 Billion Acquisition of Snack Giant Kellanova

    While the Commission has not made any official comment, and neither Mars nor Kellanova responded to repeated requests for statements, insiders say Mars is unlikely to propose early concessions to allay antitrust concerns before the initial review period ends on June 25. This hesitance could push the Commission to proceed with an in-depth investigation, per Reuters.

    The deal comes amid a broader trend of consolidation in the U.S. packaged food industry, as companies pursue scale to cope with rising costs and changing consumer behavior. Shoppers are increasingly turning to lower-priced private-label options, forcing branded goods manufacturers to seek efficiencies through mergers.

    European retailers have been particularly vocal in opposing the Mars-Kellanova merger. They argue that the increasing dominance of large multinational suppliers enables practices that limit retailer flexibility and potentially harm consumers. According to Reuters, critics cite high concentration in categories like breakfast cereals, soft drinks, and frozen desserts as examples of how such deals can consolidate supplier power to the detriment of market competition.

    Source: Reuters