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European regulators are poised to launch an anti-trust investigation into the $35.9 billion acquisition of Mars’ Pringles and Pop-Tarts maker Kellanova, according to those who described the decision.
The private conglomerate contract to buy US rivals was one of the biggest M&A deals last year.
Mars, known for sweet snacks such as M&M, Snickers and Skittles, was not offering a bailout to address the Commission’s concerns about the high market shares identified during the preliminary screening of the takeover, people said.
Poul Weihrauch, chief executive of MARS, one of the world’s largest family-owned companies, said he did not expect a scrutiny of key regulations as Mars and Kellanova’s businesses were complementary.
Keranova produces Cheese It Crackers, Rice Christie Treat and Ego Waffles, which was created in 2023 after Kellogg separated the breakfast cereal and snack business.
The transaction is one of the biggest in the food sector, which has been struggling with reducing consumer spending in years.
The committee declined to comment. Mars and Kellanova did not immediately respond to requests for comment.
The potential investigation was first reported by Reuters.
Additional Reports by Madeleine Speed in London
