EU regulators to decide on Mars-Kellanova merger in June

Antitrust regulators with the European Union have set a June 25 deadline to decide whether to approve McLean-based candymaker and pet care giant Mars‘ $35.9 billion acquisition of snack producer Kellanova, which was announced last August.

According to the European Commission website, the EU’s Directorate-General for Competition will issue a decision next month on whether the deal can go through, or it can open a four-month investigation if it has concerns, Reuters reported this week. The deadline was set Monday.

The two companies said last year that they hope to close the deal this August, although the closing date could be extended up to 12 months if the businesses don’t receive necessary regulatory approvals by then.

Mars, which produces M&M’s, Snickers and Twix, announced the all-cash deal in August 2024, which would bring Cheez-It, Pop-Tarts, Pringles, Eggo and other food products under Mars’ ownership. The publicly owned Kellanova was created in October 2023 when Kellogg split into two companies, with W.K. Kellogg Co. producing breakfast cereals and Kellanova manufacturing its snack brands.

Mars is Virginia’s largest privately held company and the fourth-largest in the United States. In recent years, it has made acquisitions in pet care and candy sectors in an effort to double its sales by 2033. According to Mars, Kellanova brands will be part of the Mars Snacking division headquartered in Chicago and led by Mars Snacking Global President Andrew Clarke after the deal is completed.