Mars, the company behind M&M's and Snickers, has officially received approval from the US Federal Trade Commission (FTC) to move forward with its massive $36 billion plan to buy Kellanova, the maker of popular snacks like Pringles and Cheez-It.
The FTC announced its decision on Wednesday, saying the deal does not break any US antitrust laws.
That means the merger will not harm competition or create a monopoly, Reuters said.
"Our job is to determine whether there is a violation of American law that we can prove in court. And once we've concluded there is not, our job is to get out of the way," said Daniel Guarnera, Director of the FTC's Bureau of Competition.
The agency's team reviewed the deal closely, looking at every angle—including possible impacts on prices and competition.
Guarnera said they "turned over every stone needed" and found no reason to block the merger.
With this decision, Mars has now secured approval from 27 of the 28 countries reviewing the deal. Only one regulator—the European Union—has yet to make a final call.
The FTC just approved Mars’ $36B acquisition of Kellanova (Kellogg’s), stating, “The Commission cares deeply about any competition concerns that affect American consumers, including in food products.”
— Lee Hepner (@LeeHepner) June 25, 2025
I mean, COME ON. Mars has an infographic & catchphrase touting their overlaps! pic.twitter.com/HBurYJP1RU
Mars Expands Snack Portfolio With Pringles, Cheez-It Acquisition
EU officials launched a deeper investigation on the same day the FTC closed theirs, raising concerns that the deal could impact prices for chips and cereal in Europe.
Mars CEO Poul Weihrauch confirmed that the company expects the deal to be fully completed by the end of 2025.
"We are confident that the deal strengthens our business and gives customers more great choices," he said.
According to BusinessTimes, this move will add top snack brands like Pringles chips and Cheez-It crackers to Mars' already big line-up of products.
Mars is best known for its candy and pet food, but this purchase will help the company branch out more into salty snacks and cereal.
The deal also comes at a time when the cost of cocoa is going up fast. Mars' decision to invest heavily in snacks like chips and crackers is seen as a smart way to reduce its dependence on chocolate products.
Meanwhile, to help pay for the acquisition, Mars is planning to sell more than $25 billion in bonds. If successful, it would be the biggest US bond deal of the year so far and one of the top 10 deals of its kind in the past decade.
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