FoodLogistics.com |

Chicago: The Wm. Wrigley Jr. Co. has announced an agreement to merge with Mars Inc. As a result of this transaction, Wrigley will become a private company and part of one of the world's premier family-owned companies. The combined organization will have a product portfolio containing some of the world's most recognizable and well-loved confectionery brands, including Orbit, Extra, Doublemint, M&M's, Snickers and Mars, as well as leading food, beverage and pet care brands. The combined portfolio will boast over $27 billion in global sales.

"First and foremost, this is a great transaction at a great price that provides tremendous value to Wrigley stockholders," notes Bill Wrigley, Jr., executive chairman and chairman of the board. "Additionally, in terms of Wrigley's ongoing business, the true value of this transaction arises primarily from enhanced growth opportunities, including the potential for cross-pollination of people, ideas and brands and significant enhancements of sales, marketing and distribution infrastructures.”

"Mars and Wrigley have much more in common than multi-generational family leadership and significant global footprints," says Paul S. Michaels, Mars Global president. "We share common values and ways of doing business, including an emphasis on ethics and respect for people, focus on generational growth and expertise in obtaining consumer insights and building enduring brands.”

"This combination brings together two strong, complementary confectionery organizations," says Bill Perez, president and chief executive officer of Wrigley. "A big part of what attracted Mars to Wrigley was our proven track record in the marketplace and the talent of our people. As a stand-alone subsidiary of Mars, with our strong, global leadership team in place, we will have the opportunity to accelerate our already strong growth trajectory."

According to Wrigley, the intent is for the Wrigley Co. to be a stand-alone entity, in order to avoid distracting the associates of both companies and possibly diminishing the outstanding business momentum both companies have in place. “Our objective is to allow our strengths and assets to complement each other, providing even more opportunity for growth and career development,” he says.