Monday, Nov. 03, 2008
Candy is Dandy
Mars Inc., the secretive, privately held confectioner that makes some of the world's best known candy brands, including M&M and Snickers, acquires Wrigley, the family run, publicly held company that makes some of the best known gum brands, including Juicyfruit and Doublemint, for $23 billion in October. Result: the world's largest candy maker. Warren Buffett feeds his sweet tooth by helping finance the purchase. Even in an epic recession, it should work out okay: Those who can afford to buy little else still buy sweets.