Mars' Acquisition of Kellanova Clears Key Regulatory Hurdles
Deal News | Jun 26, 2025 | EIN
Mars Inc.'s acquisition of Kellanova has moved a step closer to completion as the U.S. Federal Trade Commission (FTC) finishes its antitrust review without imposing any conditions. Announced nearly a year ago, the total acquisition price is $83.50 per share, amounting to a $35.9 billion value with assumed net leverage, marking it as the largest CPG transaction since the Kraft-Heinz merger in 2015. With 28 regulatory clearances required, only the European Commission's review remains outstanding. Mars President and CEO Poul Weihrauch expressed satisfaction with the regulatory progress, highlighting the synergies between Mars and Kellanova and the consumer benefits in terms of choice and innovation.
Sectors
- Consumer Packaged Goods (CPG)
- Mergers and Acquisitions (M&A)
Geography
- United States – The U.S. Federal Trade Commission's review is a key regulatory hurdle that has been cleared, indicating significant U.S. geographical relevance to the transaction.
- European Union – The European Commission is the last regulatory body yet to clear the acquisition, highlighting the significance of the European market in the deal.
Industry
- Consumer Packaged Goods (CPG) – The acquisition of Kellanova by Mars Inc. is identified as a major transaction within the CPG sector. The deal indicates industry consolidation and potential market expansion.
- Mergers and Acquisitions (M&A) – The article revolves around Mars' acquisition of Kellanova, making M&A a central industry classification due to the nature of corporate expansion and strategic acquisition involved.
Financials
- $35.9 billion – Total consideration for the acquisition of Kellanova by Mars Inc., including assumed net leverage.
- $83.50 per share – Price per share Mars Inc. is paying in cash to acquire Kellanova.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Mars Inc. | Bidding Company | Company | Mars Inc., a global leader in the CPG industry, is acquiring Kellanova in a strategic move to enhance its market position. |
| Kellanova | Target Company | Company | Kellanova is the company being acquired by Mars Inc. in a significant CPG sector transaction. |
| Federal Trade Commission (FTC) | Regulatory Body | Government | The U.S. Federal Trade Commission conducted the antitrust review process for the Mars-Kellanova acquisition. |
| European Commission | Regulatory Body | Government | The European Commission's review is the final regulatory clearance required for the Mars-Kellanova acquisition. |
| Poul Weihrauch | CEO | Person | Poul Weihrauch is the President and CEO of Mars Inc., expressing satisfaction with regulatory progress in the acquisition. |