NPR logo

Mars Aims to Buy Wrigley for Nearly $23 Billion

  • Download
  • <iframe src="https://www.npr.org/player/embed/89990570/89990550" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript
Mars Aims to Buy Wrigley for Nearly $23 Billion

Business

Mars Aims to Buy Wrigley for Nearly $23 Billion

Mars Aims to Buy Wrigley for Nearly $23 Billion

  • Download
  • <iframe src="https://www.npr.org/player/embed/89990570/89990550" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript

The chocolate candy company Mars plans to buy the gum company Wrigley for nearly $23 billion. The deal will bring many of the most famous names in candy under one corporate roof, and it'll end Wrigley's 117-year history as an independent family-owned company.

RENEE MONTAGNE, host:

NPR's business news starts with a merger of chocolate and chewing gum.

The chocolate candy maker Mars plans to buy the chewing gum maker Wrigley for more than $23 billion. The deal will bring many of the most famous names in candy under one corporate roof. Mars makes M&M's, Snickers and Twix, while Wrigley makes Juicy Fruit and Doublemint gum, Life Savers and Altoids.

The deal will end Wrigley's 117-year history as an independent, family-owned company. It will help Mars extend its international reach. Wrigley already makes most of its money in overseas markets. Mars is getting some back from Warren Buffet. Buffet's company, Berkshire Hathaway, will provide funding and buy a stake in Wrigley.

Copyright © 2008 NPR. All rights reserved. Visit our website terms of use and permissions pages at www.npr.org for further information.

NPR transcripts are created on a rush deadline by Verb8tm, Inc., an NPR contractor, and produced using a proprietary transcription process developed with NPR. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.

Comments

 

Please keep your community civil. All comments must follow the NPR.org Community rules and terms of use, and will be moderated prior to posting. NPR reserves the right to use the comments we receive, in whole or in part, and to use the commenter's name and location, in any medium. See also the Terms of Use, Privacy Policy and Community FAQ.