Latest news with #Nature'sBakery
Entrepreneur
2 days ago
- Business
- Entrepreneur
Mars Brands Made in US, Investing Billions in Factories
The candy-maker has created 9,000 jobs over the last five years with its investments, according to a new report. The maker of popular candies and gum, including M&M's and Milky Way, is investing $6 billion in U.S. factories. The Wall Street Journal reports that $2 billion of the six will be invested in the next 18 months with a focus on scaling new businesses, including building a new factory for Nature's Bakery. (Mars brand Kind, which was founded by "Shark Tank" investor Daniel Lubetzky, acquired Nature's Bakery in 2020.) Mars CEO Poul Weihrauch posted on LinkedIn Tuesday that 94% of Mars products sold in the U.S are "produced locally in the U.S." The company also said it has created 9,000 jobs over the last five years with its investments. Related: Daniel Lubetzky Took Kind Snacks From Idea to $5 Billion. Here's His Best Advice For Anyone Who Wants to Start a Business. Related: Meet the World's Secretive Billionaires Who Give Stealth Wealth a Whole New Meaning, from Ike Perlmutter to Philip Anschutz The investment will stretch across the company's many products and brands, which also include Pringles, Snickers, and Pedigree pet food. "We're convinced about the long-term strength of the American consumer," Claus Aagaard, Mars' chief financial officer, told the WSJ. Mars is a private, family-owned business headquartered in McLean, Virginia. The Mars family reportedly has a net worth of $117 billion. Forbes ranked them the No. 2 richest family in America in 2024 behind the Walton family (Walmart). Join top CEOs, founders and operators at the Level Up conference to unlock strategies for scaling your business, boosting revenue and building sustainable success.
CTV News
2 days ago
- Business
- CTV News
Candy giant Mars to invest US$2 billion more in U.S. manufacturing through 2026
Chocolate bars from Mars are pictured in a store in Gelsenkirchen, Germany. (AP / Martin Meissner) Candy and snacks giant Mars on Tuesday announced plans to invest US$2 billion more in its U.S. operations through next year to bolster the company's ongoing efforts to expand manufacturing in the country. The Twix and MilkyWay chocolate maker has already invested more than $6 billion in U.S. manufacturing in the last five years and the new funding will support a $240 million facility for Nature's Bakery in Salt Lake City, Utah. The new facility, opening on Wednesday, will create over 230 new jobs in the region and have the capacity to produce about one billion candy bars every year, Mars said. 'The U.S. is our biggest and most important market, and a key engine of growth for the long term – not only through our legacy manufacturing footprint but also through the expansion of strategic acquisitions like Nature's Bakery, which is already scaling quickly," said Mars CFO Claus Aagaard. Many companies are doubling down on their U.S. production capabilities after the Trump administration imposed sweeping import tariffs aimed at narrowing the trade deficit and prompting multinational firms to bring manufacturing back to America. About 94 per cents of Mars products sold in the U.S. are produced locally. The company announced a $36 billion deal to buy Pringles maker Kellanova K.N in August, and has received approval from U.S. antitrust regulators while EU counterparts opened a full-scale investigation last month. (Reporting by Anuja Bharat Mistry in Bengaluru; Editing by Devika Syamnath)
Yahoo
2 days ago
- Business
- Yahoo
Candy giant Mars to invest $2 billion more in US manufacturing through 2026
(Reuters) -Candy and snacks giant Mars on Tuesday announced plans to invest $2 billion more in its U.S. operations through next year to bolster the company's ongoing efforts to expand manufacturing in the country. The Twix and MilkyWay chocolate maker has already invested more than $6 billion in U.S. manufacturing in the last five years and the new funding will support a $240 million facility for Nature's Bakery in Salt Lake City, Utah. The new facility, opening on Wednesday, will create over 230 new jobs in the region and have the capacity to produce about one billion candy bars every year, Mars said. "The U.S. is our biggest and most important market, and a key engine of growth for the long term – not only through our legacy manufacturing footprint but also through the expansion of strategic acquisitions like Nature's Bakery, which is already scaling quickly," said Mars CFO Claus Aagaard. Many companies are doubling down on their U.S. production capabilities after the Trump administration imposed sweeping import tariffs aimed at narrowing the trade deficit and prompting multinational firms to bring manufacturing back to America. About 94% of Mars products sold in the U.S. are produced locally. The company announced a $36 billion deal to buy Pringles maker Kellanova in August, and has received approval from U.S. antitrust regulators while EU counterparts opened a full-scale investigation last month.
CNBC
2 days ago
- Business
- CNBC
Candy giant Mars to invest $2 billion more in U.S. manufacturing through 2026
Candy and snacks giant Mars on Tuesday announced plans to invest $2 billion more in its U.S. operations through next year to bolster the company's ongoing efforts to expand manufacturing in the country. The Twix and Milky Way chocolate maker has already invested more than $6 billion in U.S. manufacturing in the last five years and the new funding will support a $240 million facility for Nature's Bakery in Salt Lake City, Utah. The new facility, opening on Wednesday, will create over 230 new jobs in the region and have the capacity to produce about one billion candy bars every year, Mars said. "The U.S. is our biggest and most important market, and a key engine of growth for the long term – not only through our legacy manufacturing footprint but also through the expansion of strategic acquisitions like Nature's Bakery, which is already scaling quickly," said Mars CFO Claus Aagaard. Many companies are doubling down on their U.S. production capabilities after the Trump administration imposed sweeping import tariffs aimed at narrowing the trade deficit and prompting multinational firms to bring manufacturing back to America. About 94% of Mars products sold in the U.S. are produced locally. The company announced a $36 billion deal to buy Pringles maker Kellanova in August, and has received approval from U.S. antitrust regulators while EU counterparts opened a full-scale investigation last month.
Reuters
2 days ago
- Business
- Reuters
Candy giant Mars to invest $2 billion more in US manufacturing through 2026
July 29 (Reuters) - Candy and snacks giant Mars on Tuesday announced plans to invest $2 billion more in its U.S. operations through next year to bolster the company's ongoing efforts to expand manufacturing in the country. The Twix and MilkyWay chocolate maker has already invested more than $6 billion in U.S. manufacturing in the last five years and the new funding will support a $240 million facility for Nature's Bakery in Salt Lake City, Utah. The new facility, opening on Wednesday, will create over 230 new jobs in the region and have the capacity to produce about one billion candy bars every year, Mars said. "The U.S. is our biggest and most important market, and a key engine of growth for the long term – not only through our legacy manufacturing footprint but also through the expansion of strategic acquisitions like Nature's Bakery, which is already scaling quickly," said Mars CFO Claus Aagaard. Many companies are doubling down on their U.S. production capabilities after the Trump administration imposed sweeping import tariffs aimed at narrowing the trade deficit and prompting multinational firms to bring manufacturing back to America. About 94% of Mars products sold in the U.S. are produced locally. The company announced a $36 billion deal to buy Pringles maker Kellanova (K.N), opens new tab in August, and has received approval from U.S. antitrust regulators while EU counterparts opened a full-scale investigation last month.
