Mars pays $23B to buy Wrigley Co.
Associated Press
HARRISBURG, Pa. — Mars Inc. has closed a $23 billion deal to purchase chewing-gum giant Wm. Wrigley Jr. Co., the companies said yesterday, making the combined business the world's largest candy maker.
The deal brings together household names: Wrigley, a landmark in Chicago where the company began in 1891, and Mars, the privately held maker of Snickers and Skittles and M&Ms — the candy-coated chocolates that are the world's best-selling chocolate candy brand.
Wrigley's stock ceased trading publicly yesterday as the owner of one of the world's most popular chewing gum brands, Orbit, becomes a subsidiary of Mars. Its headquarters will remain in Chicago, and it will take over Mars' sugar candy brands, including Skittles and Starburst, as well as production facilities in Australia, the Czech Republic and Mexico.