Mars Acquires Wrigley’s for $23 Billion |
| New York Times - Apr 28, 2008 |
Mars, the makers of M&M’s, announced a deal Monday morning to acquire the Wm. Wrigley Jr. Company, the chewing gum concern, for about $23 billion. The transaction would create a confectionery behemoth and could pressure rivals into a cascade of other mergers.
The Mars-Wm. Wrigley Jr. deal has an unusually famous financier: Warren E. Buffett. Mr. Buffett’s Berkshire Hathaway is helping finance the transaction, Mars said Monday in a statement. Mr. Buffett has a history with iconic food and beverage businesses. He was an early investor in Coca-Cola and is already a candy owner in Sees Candies.
Under the agreement, Wrigley will become a separate, stand-alone subsidiary of Mars. With $5.4 billion in sales, Wrigley is a world leader in gum and confections.
Read Full Article from New York Times
- Posted: 2008-04-28 08:40:38
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