Latest news with #PoulWeihrauch
Entrepreneur
29-07-2025
- 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.
Chicago Tribune
26-06-2025
- Business
- Chicago Tribune
Pringles maker Kellanova's shares rise after US regulators approve its proposed merger with Mars
Snack maker Kellanova's shares rose Thursday on news that its proposed merger with Mars Inc. had cleared U.S. regulators. The U.S. Federal Trade Commission announced late Wednesday that after nearly a year of investigation, it determined that a merger between Mars and Kellanova wouldn't threaten competition in the market. Kellanova shares were up nearly 1% in morning trading. Mars is privately held. McLean, Virginia-based Mars makes sweet snacks like M&M's, Snickers and Skittles as well as Ben's Original rice and pet food. Chicago-based Kellanova, which was created in 2023 when the Kellogg Co. split into two companies, owns brands including Cheez-its, Pringles, Eggo, Town House, MorningStar Farms and Rice Krispies Treats. Last August, Mars announced its intention to buy Kellanova for $35.9 billion. It said the deal would help it broaden its snacking portfolio and expand globally. Around 50% of Kellanova's net sales come from outside the U.S. and Canada. Mars President and CEO Poul Weihrauch said that with the FTC's decision, the proposed merger has now cleared all but one of the 28 regulatory approvals it sought. An antitrust review by the European Commission remains outstanding. 'This brings us one step closer to uniting two iconic businesses with complementary footprints and portfolios, allowing us to deliver more choice and innovation to consumers,' Weihrauch said in a statement. Mars and Kellanova said they expect the deal to close towards the end of this year, pending the European review.
26-06-2025
- Business
Pringles maker Kellanova's shares rise after US regulators approve proposed merger
Snack maker Kellanova's shares rose Thursday on news that its proposed merger with Mars Inc. had cleared U.S. regulators. The U.S. Federal Trade Commission announced late Wednesday that after nearly a year of investigation, it determined that a merger between Mars and Kellanova wouldn't threaten competition in the market. Kellanova shares were up nearly 1% in morning trading. Mars is privately held. McLean, Virginia-based Mars makes sweet snacks like M&M's, Snickers and Skittles as well as Ben's Original rice and pet food. Chicago-based Kellanova, which was created in 2023 when the Kellogg Co. split into two companies, owns brands including Cheez-its, Pringles, Eggo, Town House, MorningStar Farms and Rice Krispies Treats. Last August, Mars announced its intention to buy Kellanova for $35.9 billion. It said the deal would help it broaden its snacking portfolio and expand globally. Around 50% of Kellanova's net sales come from outside the U.S. and Canada. Mars President and CEO Poul Weihrauch said that with the FTC's decision, the proposed merger has now cleared all but one of the 28 regulatory approvals it sought. An antitrust review by the European Commission remains outstanding. 'This brings us one step closer to uniting two iconic businesses with complementary footprints and portfolios, allowing us to deliver more choice and innovation to consumers,' Weihrauch said in a statement.
San Francisco Chronicle
26-06-2025
- Business
- San Francisco Chronicle
Pringles maker Kellanova's shares rise after US regulators approve its proposed merger with Mars
Snack maker Kellanova's shares rose Thursday on news that its proposed merger with Mars Inc. had cleared U.S. regulators. The U.S. Federal Trade Commission announced late Wednesday that after nearly a year of investigation, it determined that a merger between Mars and Kellanova wouldn't threaten competition in the market. Kellanova shares were up nearly 1% in morning trading. Mars is privately held. McLean, Virginia-based Mars makes sweet snacks like M&M's, Snickers and Skittles as well as Ben's Original rice and pet food. Chicago-based Kellanova, which was created in 2023 when the Kellogg Co. split into two companies, owns brands including Cheez-its, Pringles, Eggo, Town House, MorningStar Farms and Rice Krispies Treats. Last August, Mars announced its intention to buy Kellanova for $35.9 billion. It said the deal would help it broaden its snacking portfolio and expand globally. Around 50% of Kellanova's net sales come from outside the U.S. and Canada. Mars President and CEO Poul Weihrauch said that with the FTC's decision, the proposed merger has now cleared all but one of the 28 regulatory approvals it sought. An antitrust review by the European Commission remains outstanding. 'This brings us one step closer to uniting two iconic businesses with complementary footprints and portfolios, allowing us to deliver more choice and innovation to consumers,' Weihrauch said in a statement. Mars and Kellanova said they expect the deal to close towards the end of this year, pending the European review.
The Independent
26-06-2025
- Business
- The Independent
Pringles maker Kellanova's shares rise after US regulators approve its proposed merger with Mars
Snack maker Kellanova's shares rose Thursday on news that its proposed merger with Mars Inc. had cleared U.S. regulators. The U.S. Federal Trade Commission announced late Wednesday that after nearly a year of investigation, it determined that a merger between Mars and Kellanova wouldn't threaten competition in the market. Kellanova shares were up nearly 1% in morning trading. Mars is privately held. McLean, Virginia-based Mars makes sweet snacks like M&M's, Snickers and Skittles as well as Ben's Original rice and pet food. Chicago-based Kellanova, which was created in 2023 when the Kellogg Co. split into two companies, owns brands including Cheez-its, Pringles, Eggo, Town House, MorningStar Farms and Rice Krispies Treats. Last August, Mars announced its intention to buy Kellanova for $35.9 billion. It said the deal would help it broaden its snacking portfolio and expand globally. Around 50% of Kellanova's net sales come from outside the U.S. and Canada. Mars President and CEO Poul Weihrauch said that with the FTC's decision, the proposed merger has now cleared all but one of the 28 regulatory approvals it sought. An antitrust review by the European Commission remains outstanding. 'This brings us one step closer to uniting two iconic businesses with complementary footprints and portfolios, allowing us to deliver more choice and innovation to consumers,' Weihrauch said in a statement. Mars and Kellanova said they expect the deal to close towards the end of this year, pending the European review.
