Mars’ acquisition of Kellanova, maker of Pringles, Cheez-It and other snacks, clears FTC review
Mars, Incorporated and Kellanova announced this week that the U.S. Federal Trade Commission has completed its antitrust review of Mars’ proposed acquisition of Kellanova without imposing any conditions or requiring any remedies.
The clearance marks a major step toward finalizing the deal between two global food giants. Mars, a family-owned company known for its pet care, snacking, and food brands, is seeking to acquire Kellanova, a leading producer of snacks, international cereals and noodles, and frozen foods in North America.
“We are very pleased that the FTC has completed its review of the transaction without the imposition of any condition or requiring any remedy,” said Poul Weihrauch, CEO and Office of the President of Mars, Incorporated. “The transaction has now received all but one of the 28 required regulatory clearances, with only the review by the European Commission outstanding.”
Kellanova Chairman, President and CEO Steve Cahillane called the approval a “significant milestone” on the path to combining Mars Snacking with Kellanova.
“We continue to believe this is an exciting opportunity to create a broader, global snacking business that is better positioned to meet evolving consumer needs and preferences,” Cahillane said.
Mars and Kellanova expect to close the transaction by the end of 2025, pending approval from the European Commission and other customary closing conditions. The companies said the exact timing remains uncertain.
Kellanova, whose 2023 net sales totaled $13 billion, owns a portfolio of widely recognized brands including Pringles®, Cheez-It®, Pop-Tarts®, Kellogg’s®, Eggo®, RXBAR®, and MorningStar Farms®.
