Food manufacturer Mars has announced that the acquisition of snack company Kellanova has received final and unconditional approval from the European Commission.

Following the regulatory approval, the deal is expected to be completed on Thursday (11 December).

Kellanova’s portfolio of brands, including Pringles and Pop-Tarts, will become part of Mars’ snacking portfolio, which has brands such as Snickers and Twix.

After the acquisition, the FMCG brand estimates that the merged snacking business will generate around £27.4bn in yearly revenue.

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Mars’ snacking division will continue to run its headquarters in Chicago, USA, and will sell its products across 145 markets.

Poul Weihrauch, CEO of Mars said: “Our focus now turns to welcoming Kellanova employees to Mars and creating an even more innovative global snacking business that delivers greater choice and quality to more consumers around the world.”

The acquisition was first announced in August last year, when Mars announced a £22bn takeover for Kellanova, subject to meeting regulatory approval.

Steve Cahillane, president and CEO of Kellanova, said: “This combination will bring together two purpose-driven and principles-led companies.

“Serving as Kellanova’s chairman, president and CEO has been a true honour, and I’m looking forward to seeing Kellanova people and brands thrive as part of Mars Snacking.”