Mars is combining its chocolate business, which makes famous brands like Snickers, M&M’s and Twix, with its Wrigley candy subsidiary, headquartering the combined division in Chicago.
The combination was possible after Mars bought out the stake in Wrigley held by Warren Buffett’s Berkshire Hathaway. Berkshire has held a stake in Wrigley since the company was bought by Mars in 2008.The chocolate business has been based in Mount Olive, N.J., while Wrigley’s offices are in Chicago.
McLean, Va.-based Mars, which is privately held, said the combination will allow it to speed its growth in the rapidly evolving candy market. The new division will be called Mars Wrigley Confectionery.
Wrigley makes gum, mints and fruity candy including Skittles, Starburst, Altoids, Lifesavers, Extra and Orbit.