Mars to Acquire Kellanova, Create $36 Billion Global Snacking Giant

Mars is completing its $36 billion acquisition of Kellanova on December 11, 2025 after securing final regulatory clearance from the European Commission. The transaction stitches together Mars’s global confectionery staples such as Snickers, M&M’s, Twix and Skittles with Kellanova’s snack brands including Pringles, Cheez It, Pop Tarts, Rice Krispies Treats and RXBAR. Company statements circulated with the closing say the combined business will be one of the largest global snacking platforms, expected to generate roughly $36 billion in annual revenue and sell in more than 145 markets.

Upon closing Kellanova’s common stock is expected to be delisted from the New York Stock Exchange and the merged snacking unit will be headquartered in Chicago. The deal had already cleared a series of national and regional reviews, including earlier approvals from the U.S. Federal Trade Commission and other competition authorities, with the European Commission granting unconditional approval that removed the final regulatory hurdle.

The consolidation marks a major change in an industry that has trended toward scale and portfolio breadth, especially as supermarket chains and mass merchants press for tighter promotional terms and as private label offerings have expanded. Market players will now confront a combined supplier with an exceptionally broad shelf presence across sweet and salty snacks and breakfast oriented snack items, a configuration that enhances bargaining leverage when negotiating category placements and promotions with major retailers.

Mars and Kellanova have highlighted integration plans that aim to extract synergies from supply chain consolidation, combined marketing platforms and shared procurement. Company statements referenced in coverage say the integration will focus on creating efficiencies while maintaining distinct brand identities. Those statements also addressed employment impacts, noting the companies will outline post closing plans in the coming months as operations are integrated.

For suppliers and distributors, the transaction suggests a recalibration of terms and logistics. Large consolidated suppliers can centralize procurement and manufacturing, which may pressure smaller co packers but also offer scale advantages that can lower per unit costs. Retailers may face trade offs between promotional support from a single larger supplier and the competitive pressure such consolidation can bring to category pricing. Analysts following the sector say the wider effect will be fought out in private negotiations over slotting fees, promotional funding and category resets.

Regulatory clearance without remedies indicates authorities concluded the tie up would not substantially lessen competition in most relevant markets, or that any overlaps were limited and manageable. The approval closes a chapter of scrutiny that reflected growing regulatory attention to scale in consumer goods markets.

Looking longer term, the transaction underscores consolidation as a strategic response to mature category growth, shifting consumer tastes and rising input costs. For shareholders and executives it is a bet on scale as the key to defending margins and accelerating innovation in a crowded snack aisle. For consumers the practical effects will depend on how the newly combined firm balances prices, product variety and promotional activity in the months ahead.