Retailers, consumers and prices
Check Out investors waking up to a sweet deal on Monday morning.
M&M’s maker Mars Inc and Berkshire Hathaway Inc are buying Wm Wrigley Jr Co, the largest U.S. chewing gum maker, for $23 billion.
The deal will create a confectionary giant, bringing together Wrigley’s Altoids, Extra and Eclipse brands, with Mars’ M&M’s, Snickers, Starburst and Twix.
The newly announced deal could trigger a renewed push toward consolidation in the global candy business.
One potential deal that has been discussed previously, and could invite fresh interest, is that between London-based Cadbury Schweppes, known for its Dairy Milk chocolate, and Trident gum brands, and top U.S. chocolate maker Hershey Co.
The two companies are reported to have talked in the past, though the Hershey Trust, which controls about 78 percent of Hershey’s voting shares, has said Pennsylvania law requires it to maintain control of Hershey.
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