Mars successfully completes acquisition of Wrigley
MCLEAN, Va. Mars Inc. Monday announced the completion of its acquition of Wm. Wrigley Jr. Company. Mars has purchased all shares of Wrigley’s common stock as well as Class B common stock shares for $80 each in cash, a total of about $23 billion, the company said.
“We are excited to welcome Wrigley and its associates to our team,” Paul Michaels, president and chief executive officer of Mars, Inc. said in a press release “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, also creates one of the world’s leading confectionery companies.”
Mars, Inc. said that the Wrigley Company will remain a separate business keeping its headquarters in Chicago, but will operate as a subsidiary of Mars. Mars also plans to move its global non-chocolate confectionery brands to the Wrigley business, including such candies as Skittles, Starburst, Tunes and Rondo, as well as moving production from sites in Czech Republic, Mexico and other countries.
A&P Tea Company joins with General Mills to benefit breast cancer research
NEW YORK The Great Atlantic & Pacific Tea Company supermarket chain and General Mills have joined forces to launch the Pink Together program to raise funds for the Susan G. Komen for the Cure project and support breast cancer research the companies Friday announced.
From Friday, Oct. 3 through Oct. 9, customers who buy selected “pink ribbon” General Mills products at A&P grocery stores, such as The Food Emporium, Pathmar, Superfresh and Waldbaum’s. For groups of five pink ribbon products purchased at the same time of sale, General Mills will donate $1 to the Komen Foundations, up to a total of $50,000.
“We are especially honored to salute and support our own associates who have battled breast cancer by featuring them on General Mills’ Cheerios boxes,” Jennifer MacLeod, senior vice president of marketing and communications for The Great Atlantic & Pacific Tea Company told the press. “These individuals embody inspiration, strength and hope, and most importantly, survival. They remind us all that cancer can be beaten.”
Kraft says it may cut hundreds of jobs at North American operations
CHICAGO Kraft Foods will be announcing closings to operations at many of its plants in North America, the company has said. Kraft has said that the move will be undertaken in an attempt to cut overhead, and will result in the termination of several hundred jobs.
Sources said that this will affect about one percent of the company’s work force in North American. The cuts will happen across the United States and potentially at plants in Canada, too, a spokesman from Kraft told the media.
At the close of last year, Kraft employed 41,000 in the United States and the Canadian press has reported that about 7,000 people are currently employed by Kraft in Canada.