Mars and Buffett to Buy Wrigley for $23 billion - Midwest Roots (
Page 2 of 2 )
MIDWEST ROOTS
Both Wrigley and Mars have strong Chicago connections. Wrigley was
founded in the city in 1891 and Mars currently operates three plants in
Illinois, including a long-standing chocolate plant in the Chicago
suburb of Oak Park.
The Mars family approached Wrigley with the deal, according to a
letter to Wrigley employees from Chairman Bill Wrigley Jr, who would be
executive chairman of the stand-alone Wrigley unit after the deal
closes.
The deal is designed to help build Wrigley sales, marketing and
distribution infrastructure, Bill Wrigley said, adding that Mars'
non-chocolate candy brands like Starburst and Skittles will be added to
the Wrigley candy portfolio, which includes Altoids and Life Savers.
The deal is subject to Wrigley shareholder approval and is expected to close in the next six to 12 months, Bill Wrigley said.
(Additional reporting by Aarthi Sivaraman in New York and Jessica Hall in Philadelphia; editing by John Wallace)
© Thomson Reuters 2008 All rights reserved
MIDWEST ROOTS
Both Wrigley and Mars have strong Chicago connections. Wrigley was
founded in the city in 1891 and Mars currently operates three plants in
Illinois, including a long-standing chocolate plant in the Chicago
suburb of Oak Park.
The Mars family approached Wrigley with the deal, according to a
letter to Wrigley employees from Chairman Bill Wrigley Jr, who would be
executive chairman of the stand-alone Wrigley unit after the deal
closes.
The deal is designed to help build Wrigley sales, marketing and
distribution infrastructure, Bill Wrigley said, adding that Mars'
non-chocolate candy brands like Starburst and Skittles will be added to
the Wrigley candy portfolio, which includes Altoids and Life Savers.
The deal is subject to Wrigley shareholder approval and is expected to close in the next six to 12 months, Bill Wrigley said.
(Additional reporting by Aarthi Sivaraman in New York and Jessica Hall in Philadelphia; editing by John Wallace)
© Thomson Reuters 2008 All rights reserved
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