Mars, Incorporated to Combine Chocolate and Wrigley Segments to Create Mars Wrigley Confectionary
- New combined confectionery business will help Mars serve customers better and accelerate growth opportunities in vibrant global confectionery category
- Combination enabled through Mars, Incorporated’s early buy-out of Berkshire Hathaway’s equity interest in Wrigley
MCLEAN, VIRGINIA (October 6, 2016) – Mars, Incorporated today announced its intent to combine its Chocolate and Wrigley segments to create Mars Wrigley Confectionery. The combination will help deliver greater value to customers, and enable the segment to address consumer trends and insights holistically in what is increasingly seen as one global confectionery category. Mars Wrigley Confectionery is just one of Mars’ diverse global businesses, which also include Petcare, Food, Drinks and Symbioscience.
Mars Wrigley Confectionery will include some of the world’s best loved brands in Chocolate (SNICKERS®, M&M’S®, DOVE®, GALAXY®, MALTESERS®, TWIX®), Gum and Mints (DOUBLEMINT®, EXTRA®, ORBIT®, 5™, ALTOIDS®, LIFESAVERS®), and Fruity Confections (SKITTLES®, STARBURST®).
Martin Radvan, current Global President of Wrigley and a 30-year veteran of Mars, Incorporated, will lead the new Mars Wrigley Confectionery. Commenting on the proposed combination, Radvan said: “Mars Wrigley Confectionery brings together two great businesses, strengthening our ability to create win-win relationships with our customers and improving our opportunities to address dynamic retail and consumer trends together.”
Since Mars acquired Wrigley in 2008, Berkshire Hathaway has held a minority stake in Wrigley that was subject to purchase by Mars over time. Mars recently accelerated the purchase of Berkshire Hathaway’s entire equity interest in Wrigley.
Grant F. Reid, Office of the President and CEO of Mars, Incorporated commented:
“We are grateful for the strong and productive partnership we have with Warren Buffett and Berkshire Hathaway. It is a great relationship that has yielded value on both sides. We’re equally pleased that sole ownership of Wrigley provides us with an opportunity to rethink how we simplify our Chocolate and Wrigley businesses so that we can bring a more holistic approach to this vibrant category.”
The Mars Wrigley Confectionery business will have approximately 30,000 Associates operating in about 70 countries. The global hub for the new Mars Wrigley Confectionery will be in Chicago, Illinois. Mars Chocolate and Wrigley will continue to operate separately for the time being. Jean-Christophe Flatin will continue as President, Mars Global Chocolate, and Casey Keller, previously Regional President of Wrigley Americas, will become President, Global Wrigley. The combination is proposed to be phased in during 2017.
About Mars, Incorporated
Mars, Incorporated is a private, family-owned business with more than a century of history and some of the best-loved brands in the world. Some of these iconic brands include: Petcare – PEDIGREE®, ROYAL CANIN®, WHISKAS®, IAMS®, EUKANUBA®, WHISTLE®, BANFIELD® Pet Hospital, PET PARTNERS ®, CESAR®, SHEBA®, DREAMIES®, WISDOM PANEL®, BLUEPEARL®, GREENIES® and NUTRO®; Chocolate – M&M’S®, SNICKERS®, DOVE®, GALAXY®, MARS®, MILKY WAY®, 3 MUSKETEERS® BOUNTY®, MALTESERS ®, TWIX® and AMERICAN HERITAGE®; Wrigley – DOUBLEMINT®, EXTRA®, ORBIT® and 5™ chewing gums, SKITTLES® and STARBURST® candies, and ALTOIDS® AND LIFESAVERS® mints; Food – UNCLE BEN’S®, DOLMIO®, EBLY®, MASTERFOODS®, SEEDS OF CHANGE® and ROYCO®; Drinks – ALTERRA COFFEE ROASTERS™, THE BRIGHT TEA COMPANY™, KLIX® and FLAVIA®; and Symbioscience – COCOAVIA®.
Headquartered in McLean, Virginia, Mars has more than $35 billion in net sales from Mars Petcare, Mars Wrigley Confections, Mars Food, Mars Drinks and Mars Symbioscience. More than 80,000 Associates across 78 countries are united by the company’s Five Principles: Quality, Efficiency, Responsibility, Mutuality and Freedom and strive every day to create relationships with stakeholders that deliver growth we are proud of as a company.
For more information, please visit Mars.com.
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