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Unformatted text preview: A Sticky Situation Mars Inc. to buy Wrigley Co. Discussions between Wm. Wrigley Jr. Co. and Mars Inc. to blend two of the best-known names in sweets into the world's largest candy maker began, like any important family gathering, around the kitchen table. On April 11, 2008 Bill Wrigley Jr., executive chairman of the chewing-gum empire that bears his name and the fourth consecutive Wrigley to lead the company, went to McLean, Va., to meet with Mars Global President Paul Michaels and Chief Financial Officer Olivier Goudet (both appointed by the Mars Family). They had called Mr. Wrigley to request the meeting, and before long the three men were sharing sandwiches over Mr. Michaels's kitchen table. By the early hours of Monday morning, the two sides had finalized a deal. Mars, together with financial support from Warren Buffett's Berkshire Hathaway Inc., agreed to acquire Wrigley for about $23 billion. The transaction joins two of America's ubiquitous brand names: Wrigley, maker of the chewing gum, and Mars, the...
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- Fall '11