Mars, Inc. completes acquisition of WM. Wrigley Jr. Comp.
Mars, Incorporated (“Mars”) announced that it has successfully completed its acquisition of the Wm. Wrigley Jr. Company (“Wrigley”), following approval of the transaction by Wrigley stockholders on September 25, 2008 and receipt of all necessary regulatory approvals. All shares of Wrigley Common Stock and Class B Common Stock are being purchased for $80 per share in cash, or a total of approximately $23 billion. “We are excited to welcome Wrigley and its associates to our team,” said Paul S. Michaels, President and Chief Executive Officer of Mars, Incorporated. “Mars and Wrigley share a culture of innovation, quality and integrity, as well as a focus on providing consumers with great-tasting products. The combination of our two strong international businesses, with best-in-class global brands, also creates one of the world s leading confectionery companies.” Upon completion of the acquisition, the Wrigley Company becomes a subsidiary of family-owned Mars, Incorporated and will retain its current headquarters in Chicago , IL . Wrigley will operate as a separate business segment, alongside the existing Mars business units of Chocolate, Pet Care, Food, Drinks and Symbioscience. As part of the transaction, Mars will transfer its global non-chocolate confectionery sugar brands to the Wrigley subsidiary. This brand portfolio includes Skittles®, Starburst®, Tunes®, Lockets®, Rondo®, Kenman®, Skwinkles® and Lucas® brands, as well as production facilities in Scoresby, Australia; Porici, Czech Republic; and Monterey, Mexico.