Mars' acquisition of Pringles' maker triggers EU alarms – DW – 06/26/2025
The EU is worried the takeover would increase Mars' bargaining power and hike prices for consumers. The snack maker said it was hopeful the deal to acquire Pringles' maker Kellanova would go through.
The European Union has launched an antitrust investigation into Mars' acquisition of Pringles' maker Kellanova, it announced on Wednesday, citing concerns of market price hikes.
In a preliminary assessment, the European Commission said the multibillion-dollar deal between the two US-based snack makers would increase Mars' bargaining power against EU retailers.
Announced last August, the $35.9 billion (roughly €31 billion) deal was meant to bring two new billion-dollar brands, Pringles and Cheez-It, into Mars' fold.
Mars hoped the acquisition would help it meet demand in fast-growing markets, including Africa and Latin America.
The EU said alarmed retailers across the 27-nation bloc reached out, expressing concerns regarding Mars' increased bargaining power should the deal go through.
"By acquiring Kellanova, Mars will add several very popular brands of potato chips and cereals to its already broad and strong product portfolio," EU competition chief Teresa Ribera said. Aside from Pringles, Kellanova also produces Kellogg's cereals.
Citing inflation and high food prices across the continent, Ribera stressed the importance of ensuring "this acquisition does not further drive up the cost of shopping baskets."
She added that the EU's in-depth investigation will assess the deal's impact on the price of products sold by both companies.
Mars, which also makes popular snacks including M&Ms and Snickers, defended the acquisition, saying it would "deliver more choice and innovation to consumers."
"We are disappointed yet remain optimistic that this investigation will be positively resolved," the company said in a statement, adding that it was cooperating with the investigation.
A decision is expected by October 31.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Int'l Business Times
19 hours ago
- Int'l Business Times
How Zaki Gabe-Wilkinson Is Changing the CFO Role Through AI
Zaki Gabe-Wilkinson began his career at Citigroup and Morgan Stanley, where he gained firsthand experience with institutional finance. He later joined edtech company Multiverse to build out its finance function, reporting directly to the CFO. His work there included strategic finance, operational modeling, and corporate development. During this time, he frequently observed finance professionals focusing on repetitive processes rather than strategic initiatives. In 2024, he co-founded Gekko AI, a London-based company that develops AI software to automate core financial planning and analysis (FP&A) tasks. The platform enables CFOs and their teams to move from reactive reporting toward more forward-looking strategic roles. Although headquartered in the United Kingdom, Gekko AI primarily serves U.S. mid-market companies that want efficient, data-driven systems to streamline financial operations. Addressing the Workload Bottleneck in Finance Modern finance teams are responsible for providing strategic insight while managing high volumes of data and reporting. Many teams still rely on spreadsheets and manual cycles during the month-end close, spending significant time on variance analysis, budget reconciliation, and performance summaries. Recent benchmarks show that half of finance teams take more than six business days to close their books, with only 18 percent achieving a three-day close—highlighting persistent inefficiencies in the process. While AI offers significant potential, adoption has progressed slowly due to typical data accuracy, compliance, and usability concerns. Gabe-Wilkinson believes the right tools can resolve these concerns by aligning closely with finance teams ' operations. "This is not about adding more dashboards," he explains. "We need to build systems that reason through financial data and deliver insights with the precision of a human—only faster." Gekko AI addresses these needs by automating month-end reporting and streamlining the production of finance summaries. The platform helps teams operate more efficiently while enabling a deeper focus on collaboration and planning. How the Gekko AI Platform Works Gekko AI connects with a company's existing systems—such as ERP, CRM, and HRIS platforms—to extract, organize, and analyze operational and financial data. The system uses large language models to generate variance explanations, historical comparisons, and management-ready summaries that finance analysts would otherwise compile manually. "Gekko AI is built to fit within established workflows for fast integration," Gabe-Wilkinson says. "It helps finance teams stay focused and deliver results quickly." The company's team includes AI researchers from Oxford and Cambridge and professionals with operational finance backgrounds. Gabe-Wilkinson says this combination ensures that Gekko AI is technically advanced and practical. "We have built Gekko AI with a clear understanding of how finance teams work, not just how software engineers think they should," he adds. Partner-Led Development and Revenue Growth Gekko AI partnered with 20 mid-sized firms as early customers to shape the platform in real-world conditions. These companies provided feedback and helped refine the product based on live use cases. This development approach ensured that the platform addressed specific pain points encountered by finance professionals. Gekko AI now reports meaningful revenue traction is growing rapidly every month. Clients, particularly those backed by private equity, report greater speed and consistency in financial reporting. The company secured early backing from Entrepreneur First and several angel investors focused on enterprise software. Gekko AI expanded its engineering team in early 2025 and continues to grow its technical and commercial teams. Strategic Outlook and Product Roadmap Gabe-Wilkinson encourages finance professionals to spend less time on routine reporting and more time on strategic work. He points out that AI is already capable of analyzing code and generating structured business content—tasks that require far more complexity than producing a financial report. This belief continues to shape the direction of Gekko AI's platform. This aligns with broader industry trends. A recent Gartner survey found that 58 percent of finance functions now use AI, an increase of 21 percentage points from the previous year. The data reflects a rapid shift toward AI-driven financial operations. The company plans to introduce tools for forecasting, pricing analysis, and workforce planning, along with scenario modeling features that allow finance teams to evaluate options and adapt quickly. "We aim to give finance leaders more time and sharper tools to act faster, and focus on driving business performance," Gabe-Wilkinson adds. Shorter reporting deadlines and growing expectations are pushing CFOs to work faster and smarter—Gekko AI supports this by simplifying workflows and improving data use. AI Artificial intelligence
Local Germany
a day ago
- Local Germany
'System feels unfair': The struggle of getting German citizenship as a freelancer
Kathryn, an American citizen who works as a freelancer, moved to Germany more than 15 years ago. Since then, she's faced years of bureaucratic challenges: paying for tax audits and lawyers, receiving incomplete or unhelpful information from immigration authorities and navigating a system that feels stacked against her. Staying in Germany as a freelancer, she said, has never been easy – or cheap. Now, she's beginning her application for German citizenship, a process that's proving to be just as burdensome. Marcelo, a freelance artist from Brazil, has faced similar challenges. After living in Germany for seven years, Marcelo began the process of applying for German citizenship in October last year and has been going back and forth with the immigration authorities ever since. 'I would say that there is quite a discriminatory practice between freelancers and people who have a regular nine-to-five job,' Marcelo said. Both Kathryn and Marcelo have asked to be identified only by their first names because they are still in the process of applying for citizenship. Working as a freelancer does not disqualify you from becoming a German citizen, but as Kathryn and Marcelo have both found, it can make the process slower, more expensive and more confusing. Advertisement Freiberufler visa makes freelance work possible for expats The Freiberufler visa allows non-EU citizens to be self-employed or work as freelancers in Germany for three years at a time. It's an attractive option for many foreign residents, as the visa offers a way to work in Germany without a full-time employment contract. To receive this visa, applicants must show letters of intent from clients and evidence they can support themselves financially. READ ALSO: The compete guide to getting a freelance visa in Germany As a reminder to become a German citizen, all applicants are generally required to have been living in Germany for at least five years, have a long-term residence permit or permanent right of residence, pass a citizenship test and speak German at a B1 level. But for foreign freelancers who hope to one day become naturalised, it's important to understand how working as a freelancer can complicate the process of attaining citizenship. Advertisement Additional paperwork, additional expenses Because most freelancers have several employers, rather than just one, documenting taxes and income can get complicated. Freelancers applying for citizenship in Berlin must submit a Prüfungsbericht , or an audit report conducted by a tax professional, according to the ServicePortal Berlin website . Freelancers must also submit their last Steuerbescheid , or tax assessment, and a tax clearance certificate, or Steuerunbedenklichkeitsbescheinigung. In contrast employees with salaried jobs need only to submit their employment contract, their last six months of salary statements and a statement from their employer concerning the duration of the employment, the ServicePortal website says. German immigration authorities can be quite meticulous when reviewing freelancers' financial documents, and even minor discrepancies between invoices and bank statements can raise red flags. In the more than 15 years Kathryn has spent as a freelancer, she said she's run into all kinds of issues reporting her taxes and income. As an example she once received a €23 refund on a Deutsche Bahn ticket. When she later submitted a bank statement that included that refund, the clerk reviewing her documents accused her of receiving compensation for unreported freelance work with Deutsche Bahn. Advertisement Citizenship comes at a cost Another challenge freelancers face when applying for citizenship is the heavy cost burden. Just getting a Prüfungsbericht can sometimes cost upwards of €1,000. Over the course of the application process, Marcelo has already paid around €2,000 for lawyers and tax professionals, as well as for official translations of documents. 'I had to ask for help from my parents, because I couldn't do it myself,' Marcelo said. 'So I do feel like it's something that is quite prohibitive.' Kathryn estimated she'd spent between €5,000 and €10,000 annually on freelance-related expenses since moving to Germany. That includes lawyers, tax professionals, document translations and insurance, not to mention all the hours of income she's lost. 'Honestly, it's not felt worth it. I mean, I kept fighting for it. I kept staying here,' she said. 'But I would say altogether, it has not been worth it.' Freelancers say German bureaucracy isn't made for them A lack of transparency and clarity from immigration authorities is another complaint foreign freelancers have voiced. Kathryn said she has never been told exactly how much money she needs to make in order to prove she can support herself. Even though options like the Freiberufler visa make freelancing a viable path for international residents, some freelancers still say the system doesn't feel like it's set up for them. 'German society is not really geared towards being a freelancer,' Marcelo said. 'You are supposed to be here really in a like nine-to-five job contract…that's what they want.' READ ALSO: Five hard truths about starting out as a freelancer in Germany Kathryn said she and her husband, a German national who also freelances, have considered leaving Germany altogether because of these bureaucratic challenges. Kathryn has looked into relocating to countries including the Netherlands, New Zealand and Senegal – all of which were friendlier to freelancers than Germany is, she said. 'Why is it so hard here?' Kathryn said. 'I just find there's not a lot of clarity here.' Have you had similar experiences applying for German citizenship as a freelancer. We want to hear from you. Share your story in the comments section or email us at news@
Int'l Business Times
a day ago
- Int'l Business Times
World Leaders Conspire to Form Trade Org Without US As Trump Keeps Threatening Countries With Tariffs
As President Donald Trump threatens to hit European imports with tariffs as high as 50%, world leaders are quietly working to form a new global trade order that excludes the U.S. With a July 9 deadline looming for a new EU-U.S. deal, Trump has warned that punitive tariffs will return if the bloc doesn't agree to his terms. In response, European Commission President Ursula von der Leyen has proposed a bold counter. The proposal would mean uniting the EU's 27 countries with the 12-nation Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which includes the UK, to launch a new trade alliance without the United States, according to Politico. "CPTPP and the European Union is mighty," von der Leyen said at the EU leaders' summit, adding that the bloc could replace the WTO and decide later whether to admit the U.S. The idea has public backing from German Chancellor Friedrich Merz and Polish Prime Minister Donald Tusk, who likened the approach to Trump's own erratic style. "We need to be similar to our partners in some sense," Tusk said. Privately, EU leaders reportedly admit they are now scrambling to craft a face-saving deal with the U.S. before the deadline to avoid sweeping tariffs. Negotiations are expected to continue into next week. However, the bloc remains divided. Some leaders want to secure a basic agreement quickly to shield vulnerable industries like chemicals and steel, while others remain reluctant to concede to Trump's demands. French President Emmanuel Macron, once defiant, now concedes, "10% [tariffs] will be 10%." Originally published on Latin Times
