Monday, August 29, 2016

A Long History For Candy Company Mars

Forrest Mars Jr, billionaire co-owner of Mars Inc., died recently at the age of 84.  He owned the company with his two siblings, and helped oversee the candy company's global drive into new markets.  Among their many products were Milky Way, Skittles, M and M, Twix, Starburst, Dove, Snickers, Pedigree dog food, Banfield Pet Hospitals, Whiskas cat food, and Uncle Bens rice.

Forrest was the grandson of Forrest E. Mars, who made the first Mars products in 1911, over 100 years ago.  He and his siblings ran the closely held company for the past 30 years.  They expanded their products into Russian, Poland and the Czech Republic in 1991 and opened their first manufacturing plant in China two years later.

Mars believed that the first company in after the fall of the Soviet Union would have a big advantage over Soviet bloc consumers.  His penchant for aggressive internationl expansion would play an important role in the company's success in China.  Along the way, Forrest Mars Jr. became the world's 21st wealthiest person, amassing a net wort of over $31.5 billion.  His two siblings have equivalent fortunes.

Like his father before him, Forrest Mars Jr. was a very private man.  He shunned the spotlight and kept his business activities so veiled that Washingtonian magazine described privacy as "their religion."  Under its founder, Mars became a household name with products like Milky Way, M and M's, and Snickers.  Ownership passed to the children in 1973, and expansion continued.  In 1981 they acquired Flavia coffee, and in 1986, they acquired Dove International.  During the last two decades, under non family leadership, Mars has purchased WmWrigley Jr. Co, Iams Eukanuba and Natura petfood from Procter and Gamble.  The company has net sales of more than $33 billion and 80,000 employees.  Quite an American story for people who had an ordinary childhood.  Forrest and his siblings had to work to earn money for what they wanted as children.  No fancy clothes or expensive clothes for them.  They did not receive allowances, and they didn't even get free candy!

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