Mars Incorporated’s proposed $36 billion acquisition of Kellanova is likely to face a deeper investigation by European Union competition regulators after the US confectionery and pet food giant failed to offer remedies ahead of a key deadline.

According to a European Commission document cited by Reuters on 19 June, Mars did not submit any commitments by the 18 June cut-off designed to resolve preliminary antitrust concerns. The lapse has triggered speculation that the EU executive may initiate an in-depth probe when the initial Phase I review concludes on 25 June.

The Commission had earlier invited third parties to comment on the “proposed concentration” in a filing dated 27 May, with a ten-day response window. While the specific competition issues remain undisclosed, Reuters reports that officials are particularly concerned about Mars’ strong market position in certain product categories in some EU countries.

Mars, a privately-held company known for M&Ms, Snickers, and its growing global snacking division, agreed to acquire Kellanova—formerly part of Kellogg Company—in a $35.9 billion transaction announced in August 2024. The deal, one of the largest in the packaged foods sector in over a decade, would see Kellanova absorbed into Mars Snacking, led by global president Andrew Clarke.

Post-merger, the combined business is projected to generate over $60 billion in annual sales, significantly outpacing Mars’ $23 billion acquisition of Wrigley in 2008. Kellanova, which was spun off from Kellogg in 2023, brings a portfolio that includes Pringles, Cheez-It, Pop-Tarts, and plant-based MorningStar Farms.

While Mars has a major footprint in both snacks and pet food, Kellanova’s operations are focused on packaged foods. The companies have significant global overlap, including in the EU, raising potential red flags under European merger control rules.

Neither Mars nor Kellanova have commented publicly on the regulatory process. The European Commission has also not responded to requests for clarification at the time of writing.

If an in-depth investigation is launched, the Commission would have up to 90 working days to assess whether the merger could significantly reduce competition in the European Economic Area. Such proceedings often result in requests for divestments or other structural remedies.

The deal, still subject to regulatory clearance across multiple jurisdictions, has attracted industry attention due to its scale and potential implications for global supply chains in the snacking and breakfast categories.