A PYMNTS Company

Mars Faces Full EU Probe After Passing on Concessions in Kellanova Deal

By  |  June 19, 2025

Mars Inc. has not proposed any concessions to European Union antitrust regulators in connection with its planned $36 billion acquisition of Kellanova, the maker of Pringles, according to an update published Thursday on the European Commission’s website.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The absence of proposed remedies by the June 18 deadline comes amid growing scrutiny over the merger’s potential impact on market competition, particularly in segments where Mars already holds a strong presence. Per Reuters, sources familiar with the matter indicated that the European Commission is likely to proceed with an in-depth investigation into the deal once the preliminary review concludes on June 25.

    The acquisition, which was first announced in August 2024, ranks among the largest in the consumer goods sector, a space that has been navigating reduced consumer spending due to inflation and increased competition from private label brands.

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

    According to Reuters, EU regulators have expressed concerns about the high market concentration that could result from combining Mars’ and Kellanova’s product portfolios. The issue centers on so-called “portfolio effects,” where a company with a broad and powerful brand lineup could leverage its dominance to limit competition. While the concept is complex and the burden of proof for regulators is high, it remains a focal point of the Commission’s review, Reuters noted.

    A full-scale probe could compel Mars to divest certain assets to alleviate regulatory concerns. However, experts point out that finding effective remedies for portfolio effects is particularly challenging, given their diffuse and often indirect impact on market dynamics.

    Source: Reuters