Mars acquires wrigely

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Mars acquires wrigely

Mars acquires wrigely

A combination of Mars and Wrigley will be the largest maker of sweets and chocolate in the world, leapfrogging Cadbury Schweppes and putting pressure on the British company to revive its own search for a merger partner.

Privately owned by a Virginia-based family which closely guards its privacy, Mars is snapping up Wrigley to take advantage of economies of scale in manufacturing and distributing vast quantities of snack food.

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Advisers to the two companies say that by putting together research and innovation departments, they can improve their pipeline of new types of sweets, chocolates and gum to grab consumers' attention and help weather the slowdown in high-street spending.

Although its shares have been publicly listed sinceWrigley's founding family has a controlling stake. The firm has received assurances from Mars that Wrigley's management will retain a high degree of autonomy and that the business will remain based in its distinctive, triangular-shaped building on the Chicago river.

Wrigley's gum brands such as Juicy Fruit, Spearmint and Doublemint became global names during the war when the company diverted its entire production line away from consumers to supply America's armed forces.

But the American firm has come under assault in recent years from Cadbury, which has been making inroads with its Trident gum. Mars, meanwhile, is more diversified. In addition to snacks such as Milky Way, Snickers and Starburst, its sprawling holdings extend to Dolmio pasta sauces, Uncle Ben's rice and Whiskas cat food.

Behind-the-scenes negotiations to strike the deal have taken only three weeks despite a difficult environment for financing large transactions as banks nurse losses from the global credit crunch. The insurance tycoon is renowned for snapping up relatively low-tech businesses with a long track record.

People use more and more of their products every day. I know what I'm getting on this and [with] some of the large financial institutions, I really don't know what's there. Wrigley's factories include a production site in Plymouth which employs In a letter to staff, Bill Wrigley said the deal would lead to growth and career development, not job cuts: It held talks about buying US firm Hershey's last year but these came to nothing, partly because of Hershey's intricate ownership structure with control in the hands of a charitable trust.

Analysts said Wrigley's purchase by Mars left Cadbury potentially vulnerable to a takeover.

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Cadbury's shares, weak in recent months, jumped The Hershey Company Names Mary Kay Haben To Board of Directors where she led the integration of the Wrigley gum and Mars confections businesses in the U.S.

and Canada. a leading real. The Mars acquisition of the Wrigley assets was part of its related constrained diversification and added market share to the Mars/Wrigley integrated firm. It allowed Mars to gain _____ because it could sell its products above the market level or reduce its costs below the market level.

I also served a critical role in Mars’ acquisition of Wrigley, participating as a core member of the integration team which ensured a seamless transition, creating increased value for both Title: President of Sales, Mars Wrigley .

This price also represents times Wrigley's net sales and over 35 times Wrigley's earnings per share.

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Mars will acquire % of Wrigley's outstanding shares, and all of its outstanding options will be cashed out. Mars Wrigley silent on KIND Snacks acquisition possibility.

while Mars will provide KIND with its proven international model to expand into new markets, “Mars Wrigley’s snack brands including goodnessKNOWS and Combos also participate in growing category segments such as better-for-you snack bars and salty snacks.

Mars acquires wrigely

Mars and Wrigley show how mergers and acquisitions can inspire innovation vice president for U.S. sales and operations for Wrigley, Mars and Wrigley attribute their R&D innovations to.

Mars's Takeover of Wrigley Creates Global Powerhouse - WSJ