Mars, Incorporated Completes Acquisition of Wm. Wrigley Jr. Company

    MCLEAN, Va., Oct. 6 /CNW/ -- Mars, Incorporated ("Mars") announced today
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

    "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

    "Today is the first day in an exciting new chapter for the Wrigley
Company," said Bill Wrigley, Jr., Executive Chairman of Wrigley.  "The similar
histories, values and principles shared by Mars and Wrigley provide a strong
common foundation on which to build a bright future together.  Becoming part
of Mars opens up a world of opportunity for the expansion of our brands, the
growth of our business, and the development of our associates."

    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, Petcare,
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(R), Starburst(R), Tunes(R), Lockets(R), Rondo(R), Kenman(R),
Skwinkles(R) and Lucas(R) brands, as well as production facilities in
Scoresby, Australia; Porici, Czech Republic; and Monterey, Mexico.

    Financing for the transaction was provided by Berkshire Hathaway, Goldman
Sachs and JPMorgan.  Berkshire Hathaway will hold a minority equity investment
in the Wrigley subsidiary.

    About Mars, Incorporated
    Mars, Incorporated is a family-owned company that produces some of the
world's leading confectionery, food and pet care products and has growing
beverage and health & nutrition businesses.  Headquartered in McLean,
Virginia, Mars, Incorporated operates in more than 66 countries and employs
more than 48,000 associates worldwide.  The company's global sales are over
$22 billion annually. Founded in 1911, the company manufactures and markets a
variety of products under many of the world's most recognizable trademarks,
BEN'S(R) Rice, ROYAL CANIN(R), PEDIGREE(R) and WHISKAS(R) pet care products,
STARBURST(R), SKITTLES(R).  For additional information please visit

    About the Wrigley Company
    The Wm. Wrigley Jr. Company is a recognized leader in confections with a
wide range of product offerings including gum, mints, hard and chewy candies,
lollipops, and chocolate.  The company distributes its world-famous brands in
more than 180 countries.  Three of these brands - Wrigley's Spearmint(R),
Juicy Fruit(R), and Altoids(R) - have heritages stretching back more than a
century.  Other well-loved brands include Doublemint(R), Life Savers(R), Big
Red(R), Boomer(R), Pim Pom(R), Winterfresh(R), Extra(R), Freedent(R), Hubba
Bubba(R), Orbit(R), Excel(R), Creme Savers(R), Eclipse(R), Airwaves(R),
Solano(R), Sugus(R), P.K.(R), Cool Air(R) and 5(TM).

    B-Roll Information and Satellite Coordinates

    B-roll footage of Mars and Wrigley operations, along with sound bites
from Paul Michaels and Bill Wrigley Jr. will be available via satellite and a
link on the Mars and Wrigley websites. To access the B-roll feed via
satellite, use the coordinates below.


    Monday, October 6, 2008
    Feed time: 18:00 - 18:30 ET
    Coordinates: Analog: Galaxy 28 / Trans 19

    Feed time:  21:00 - 21:30 ET
    Coordinates: Analog:  Galaxy 28 / Trans 19

    Tuesday October 7, 2008
    Feed time: 05:00 - 05:30 ET
    Coordinates: Analog:  Galaxy 28 / Trans 19

    Media Contacts:

    For Mars
    Brunswick Group:
    Cindy Leggett-Flynn / Gemma Hart                      212-333-3810

    For Wrigley:
    Chris Perille, Senior Director - External Relations   312-645-4077


For further information:

For further information: Cindy Leggett-Flynn or Gemma Hart, both of
Brunswick Group for Mars, +1-212-333-3810; or Chris Perille, Senior Director -
External Relations, for Wrigley, +1-312-645-4077

Organization Profile


More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890