| Facts | Details |
| Founded | 1911 |
| Founder | Frank C. Mars |
| Headquarters | McLean, Virginia, USA |
| Industry | Candy, Pet Food, Food Products |
| Products | M&M’s, Snickers, Pedigree, Whiskas, Ben’s Original Rice |
| Website | https://www.mars.com/ |
| Global Presence | Over 80 countries (With Over 140,000 Employers) |
| Ownership Structure | Privately held by the Mars family (Including Jacqueline Mars, John Mars, Victoria Mars and Valerie Mars) |
| Annual Revenue | Around $45 Billion (2022) |
What is Mars Inc. Income?
As of 2023, Mars Inc. has surpassed a significant financial milestone, with its annual revenue now exceeding more than $50 billion for the first time in its history.
This growth is partly attributed to its candy business, including popular brands like Snickers bars, M&Ms, and Twix, which alone accounts for $18 billion in annual revenue.
The company has set ambitious goals to double this figure to $36 billion within the next decade.
This financial achievement underscores Mars’ position as a leading global player in the confectionery and pet food industries, reflecting its successful expansion and strategic acquisitions over the years.
Mars Inc. owned by the Mars family
History
Mars Inc. stands as a testament to American entrepreneurial spirit and innovation. Founded in 1911 by Frank C. Mars from his kitchen in Tacoma, Washington, the company has evolved from a small candy-making operation into one of the world’s largest privately-held food companies.
The company’s founder, Franklin Clarence Mars, was born on September 24, 1883, in Walden Township, Pope County, Minnesota. He learned how to hand-dip chocolate candy as a child and began selling molasses chips at age 19.
Mars married Ethel G. Kissack in 1902 and had a son, Forrest Mars, in 1904. They divorced, and Mars later married Ethel Veronica Healy in 1910, with whom he had a daughter, Patricia Mars.
In 1911, Mars started the Mars Candy Factory in Tacoma, Washington, with his second wife, Ethel V. Mars. However, the venture failed due to competition from an established business, Brown & Haley.
In 1920, Mars moved to Minneapolis, Minnesota, and founded Mar-O-Bar Co., which later incorporated as Mars, Incorporated.
Significant Overview
Today, Mars is synonymous with some of the most beloved confectionery and pet food brands, including M&M’s, Snickers, Twix, Pedigree, and Whiskas.
Headquartered in McLean, Virginia, Mars operates across four main business segments: Mars Wrigley, Mars Food, Mars Petcare, and Mars Edge.
These divisions encompass a wide range of products from chocolate candies and gum to rice and sauces, pet nutrition, and health and wellness products.
The company’s global footprint extends to over 80 countries, employing approximately 140,000 associates worldwide, including Belgium, Finland, Greece, Brazil, South Korea, and China.
Mars’ journey through the decades is marked by significant milestones and innovations. In the 1930s, the company expanded its product line to include pet care products, marking its entry into the European market.
The introduction of M&M’s in 1941, initially produced exclusively for U.S. military troops during World War II, became a public sensation by 1945.
The company’s commitment to innovation continued with the establishment of the Mars Center for Cocoa Science in Brazil in 1982, aimed at supporting sustainable cocoa farming practices.
Ownership of Mars has remained within the Mars family over the generations, reflecting a deep commitment to the company’s long-term vision and values.
The Mars family’s stewardship has been guided by five core principles: quality, responsibility, mutuality, efficiency, and freedom, which have underpinned the company’s growth and success.
Financially, Mars has demonstrated robust performance, with revenues growing to more than $50 billion in 2023, despite facing challenges such as inflationary pressures.
This growth has been driven by a combination of organic expansion and strategic acquisitions, including the purchase of the Wm. Wrigley Jr. Company in 2008 for $23 billion, further cementing its position in the global confectionery market.
In recent years, Mars has also focused on addressing social and environmental issues. This includes changing the branding of its Uncle Ben’s rice to Ben’s Original and removing racial stereotypes from its packaging in 2020.
Through initiatives like Mars Symbioscience, the company continues to explore new ways to contribute to health and sustainability.
From its humble beginnings to becoming a global powerhouse, Mars Inc. story is one of innovation, family leadership, and an unwavering commitment to making a positive impact on society and the planet.
Reference Sources:
- https://www.mars.com/about
- https://www.britannica.com/topic/Mars-Incorporated
- https://www.forbes.com/sites/chloesorvino/2023/12/15/fresh-take-inside-americas-largest-candy-company/
- https://www.businessinsider.com/mars-inc-family-fortune-net-worth-lifestyle-snickers-twix-2019-3
