MCLEAN, Va--7 Oct--PRNewswire-AsiaNet/InfoQuest
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 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,
"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
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, including DOVE(R), MILKY WAY(R), M&M'S(R), SNICKERS(R), MARS(R), UNCLE BEN'S(R) Rice,
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 +1-212-333-3810
For Wrigley:
Chris Perille, Senior Director - External Relations +1-312-645-4077
SOURCE: Mars, Incorporated; Wrigley Company
CONTACT: 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
--Distributed by AsiaNet ( www.asianetnews.net )--
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