Nevertheless,
Why european union investigating repurchase:
Dirk Waem / AFP
Brussels opened this Wednesday. Consequently, June 25, an investigation into the acquisition of the American group Kellanova, owner of the Pringles Chips on Wednesday 25 June. Furthermore,
Food – A too big monopoly in snacks? Furthermore, Brussels opened this Wednesday. Meanwhile, June 25, an investigation into the redemption of the American group Kellanova, owner of the Pringles chips, by its compatriot Mars, specialist in chocolate bars, fearing price increases for consumers in a context of high food inflation.
The operation at 31 billion euros was announced in August. “” why european union investigating repurchase By buying Kellanova. Mars will add several very popular brands of chips and cereals to an already wide and solid product portfolio ”said European Competition Commissioner Teresa Ribera. She says he wants “Ensure that this acquisition does not lead to a new increase in the cost of. the shopping basket”.
The commission. a policeman of competition in the EU, fears that the group can excessively increase its power vis-à-vis distributors. “This reinforced position could allow March to obtain higher prices during negotiations” who would be reflected in consumers.
Such worried distributors – Why european union investigating repurchase
In addition to its famous chocolate bar. the agrifood giant also produces Twix and Snickers, M & MS chocolate candies or Whiskas and Royal Canin animals. The acquisition of Kellanova would allow him to diversify in savory snacks.
March already achieves an annual turnover of more than $ 50 billion (43 why european union investigating repurchase billion euros) and employs more than 150,000 people worldwide.
Kellanova sales, which has some 23,000 employees, amount to around $ 13 billion (EUR 11.2 billion). Additionally, The group is listed on the New York Stock Exchange unlike Mars which is a family group.
The Commission now has until October 31 to make a decision. The opening of the investigation does not prejudge this decision. It can authorize. prohibit the operation, or even approve it under conditions, by demanding for example the sale of certain activities.
The two companies hold “A strong market position on several product segments in many Member States”in part thanks to “Brands considered essential” For consumers. underlines the Commission. Several distributors have expressed their ” worry “ Regarding this acquisition, she specifies.
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