Mars Company 2nd document library

Mars Company 2nd document library - Mars Company Blake...

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Unformatted text preview: Mars Company Blake Cordell History of Mars The company was incorporated in 1911 as the Mar-O-Bar Co. The company is known largely for their candy such as the Snickers, Milky Way, and M&M's, but Mars also sells other products. Mars's primary businesses are branded snack foods, accounting for approximately 43 percent of sales; pet-care products, comprising 44 percent of sales; and main meal, electronics, and drinks, accounting for the remaining 13 percent of sales. Across the world about half of sales are in Europe, 40 percent in the Americas, and 10 percent in Australia, Japan, and the West Pacific. Mars began in 1911 as the Mar-O-Bar Company, a snack food business founded by Frank Clarence Mars of Tacoma, Washington, who made a variety of butter cream candy in his home. When he first started he employed 125 people but the company quickly out grew its building and he was forced to move to a bigger facility where the Snickers and the Milky Way were created. During the depression the company grew even larger and more candy bars were created. Frank told his son, Forrest, to go to another country and start another business. So his father gave him the rights of Milky Way after his graduation from Yale he went to Europe and created a pet food company which was very successful. In 1940 Forrest returned to the U.S. where he invented the M&M's candies. During the summer time stores would only keep so many chocolate bars because of the lack of AC, but M&M's would not melt so with the help of the slogan “the milk chocolate melts in your mouth--not in your hand” the chocolate candy was a hit. Then in 1943 the company started to get into main meal business by selling rice. Mars started to sell rice under the name of Uncle Ben’s Rice and they sold rice to the army during WWII. In 1967 Forrest merged his business with the Mars Company owned by his father and took over operation of the new company. Mars Electronics International (MEI) began operating in Britain in 1969 and expanded to the United States in 1972. MEI was responsible for the introduction of electronics to the vending machine industry, and today has millions of coin mechanisms installed worldwide. Forrest, Sr., retired from Mars in 1973. His elder sons, Forrest E. Mars, Jr., and John Mars, took over Mars as co-presidents--joined in 1983 in the Office of the President by their sister Jackie, who takes a lesser role in running the company. In his retirement, Forrest, Sr., started a candy business named Ethel M. Chocolates (after his late mother) to produce premium boxed chocolates. Around 1988 Ethel M. Chocolates was purchased by Mars. Through the history of Mars there has been a competition or rather rivalry between Mars and Hershey. By 1985 industry analysts noted that the two companies were neck and neck, with Mars's recent brands including Bounty Bars, Kudos, Starburst, Skittles, and Twix Cookie Bar....
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This note was uploaded on 06/22/2011 for the course ECONOMICS 235647 taught by Professor Mr.daviss during the Spring '10 term at South Carolina.

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Mars Company 2nd document library - Mars Company Blake...

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