Chicago is My Home

28
Apr

Mars, Inc. to Buy Chicago-Based Wm. Wrigley Jr. Company For $23 Billion

Author: Adam Fendelman, Category: Business

CHICAGO – The Chicago confectionary giant Wm. Wrigley Jr. Company announced on Monday it will be bought by Mars, Inc. for $23 billion.

Also in on the deal is Warren Buffet’s Berkshire Hathaway, which will provide $4.4 billion of the total purchase price and assume a minority stake in Wrigley.

The combined company will brag a product portfolio that includes some of the world’s most famous candies including Orbit, Extra, Doublemint, M&M’s, Snickers and Mars as well as many other food and beverage brands.

Wrigley Co. will be added to the growing list of major Chicago companies that have been bought out in the last decade including Ameritech Corp., First Chicago Corp. and Amoco Corp. It is a trend that has worried some Chicago business experts.

By Megan O’Neil