Mars To Acquire Wrigley

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Mars and Warren Buffet recently announced their plans to buy Wrigley, the company behind Wrigley Gum.

According to reports, Mars and Mr. Buffet have offered $80.00 a share to stockholders in the Wrigley Corporation.

This would bring two of the largest candy makers together as separate stand alone subsidiary with Berkshire Hathaway holding a minority stake.

Mars is the world’s largest maker of chocolates by sales, with a 15% market share. Wrigley generates most of their sales abroad and they’ve added other products, so they don’t just sell gum anymore.

Mars Global President Paul S. Michaels released the following statement:

“When this transaction is completed, we will be proud to welcome Wrigley’s associates to our company. The strong cultural heritage of two legendary American companies with a shared commitment to innovation, quality and best-in-class global brands provides a great basis for this combination. We are looking forward to continuing on our path of growth by jointly developing those values even further.”

Bill Wrigley Jr. will stay on as chief executive of Wrigley and there are no plans to move the corporate
headquarters out of Chicago.

The Mars-Wrigley deal is expected to close in 12 months.

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