FDBusiness.com

Mars Incorporated plans to combine its Mars Chocolate and Wrigley segments to create Mars Wrigley Confectionery. The new segment, which brings together the successful century-long heritages of Mars Chocolate and Wrigley, will help to serve customers better, address consumer trends and accelerate growth opportunities in a vibrant global confectionery category.

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, will lead the new Mars Wrigley Confectionery segment. With his extensive experience, he will guide the segment’s 30,000 employees operating in about 70 countries.

“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,” says Martin Radvan.

Mars acquired Wrigley Company in 2008 to become the world’s leading gum manufacturer. Since then Berkshire Hathaway, the holding company for a multitude of businesses run by Chairman and CEO Warren Buffett, has held a 20% minority stake in Wrigley that was subject to purchase by Mars over time. Mars has now completed the purchase of Berkshire Hathaway’s entire equity interest in Wrigley.

Grant F Reid, Office of the President and CEO of Mars comments: “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 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 of Mars Global Chocolate, and Casey Keller, previously Regional President of Wrigley Americas, will become President of Global Wrigley. The combination is proposed to be phased in during 2017.