Munger, Tolles and Olson’s Corporate lawyers guided Berkshire’s acquisition of a $2.1B equity interest in the Wm. Wrigley Jr. Company as part of a $23B sale of the chewing gum giant to chocolate candy leader Mars, Inc. Bob Denham, Mary Ann Todd, Judi Kitano, Stephen Rose, Joel Whitley, Patrick Anderson and Paula Levy all contributed to this deal.
The merger combines companies that have worldwide footprints and are powerhouses in separate parts of the confectionery sector, Wrigley in chewing gum and Mars in chocolate candy. Wrigley will become a separate stand alone business unit of Mars but its headquarters will remain in Chicago where it had remained a family owned business since its founding.
Last year, Wrigley reported $5.39 billion in revenue, while Mars stated its revenue at more than $22 billion. Wrigley's first brands were Juicy Fruit and Wrigley's Spearmint gums. The company has more than 14,000 employees. Mars, based in McLean, Virginia has 48,000 employees.
Click here to read the Wm. Wrigley Jr. press release about the transaction.