MCLEAN, VA. — Mars, Inc. plans to combine its Mars Chocolate and Wrigley segments to create a new entity: Mars Wrigley Confectionery. The combination is proposed to be phased in during 2017.
“The new segment … will help us serve our customers better, address consumer trends and accelerate growth opportunities in a vibrant global confectionery category,” Mars said. “We’re excited by the opportunities this combination will unlock.”
Mars Wrigley Confectionery will include 14 brands: Snickers, M&M’s, Dove, Galaxy, Maltesers, Twix, Doublemint, Extra, Orbit, 5 Gum, Altoids, Lifesavers, Skittles and Starburst.
|Martin Ravdan, current global president of Wrigley|
Martin Ravdan, current global president of Wrigley and a 30-year veteran of Mars, will lead the new segment, which includes 30,000 employees operating in 70 countries. The headquarters for the new Mars Wrigley Confectionery business will be in Chicago.
For the time being, Mars Chocolate and Wrigley will continue to operate separately. Jean-Christophe Flatin will continue as president of Mars Global Chocolate, and Casey Keller, previously regional president of Wrigley Americas, will become president of Global Wrigley.
To create the combination, Mars said it intends to buy investor Warren Buffett’s minority stake in its Wrigley chewing gum business, which will give Mars sole ownership. Buffett’s Berkshire Hathaway, Inc. has held a minority stake in Wrigley since 2008, when it helped Mars buy the chewing gum maker.
|Grant F. Reid, president and c.e.o. of Mars|