Mars (With A Hand from Warren Buffett) Set to Buy Wrigley's

By Chuck Sudo in Food on Apr 28, 2008 12:07PM

Talk about your major deals. Mars, Inc. is set to buy the Wm. Wrigley Corporation for $22 billion. The deal is being fueled by some serious seed money from Warren Buffett's Berkshire Hathaway.

The deal, which isn't inked yet, would signal a serious sea change in the snack food and candy market as prices for both sugar and milk are on the rise. It could also spur further consolidation within the confectionery industry, as Hershey and Cadbury Schweppes have been looking to marry each other for years. The near-Mars/Wrigley deal would also put the publicly traded Wrigley's under the control of the privately-owned Mars.