Mars, Incorporated

What does Mars, Incorporated own?
Mars owns a portfolio of approximately 50+ brands across pet care, confectionery, savory snacks, and food categories. Its most recognized brands include M&M's, Snickers, Twix, Pedigree, Whiskas, Royal Canin, Pringles, Cheez-It, and Pop-Tarts. The company also owns the world's largest veterinary hospital network through Banfield, BluePearl, and VCA. The Kellanova acquisition in December 2025 added Pringles, Cheez-It, Pop-Tarts, RXBAR, and Kellogg's cereal brands to the portfolio.

Is Mars, Incorporated publicly traded?
No, Mars, Incorporated is entirely privately held by the Mars family. The company has never been publicly traded and has no stock exchange listing. This private ownership structure has been a consistent feature since the company's founding in 1911 and is enshrined in the company's Five Principles as the principle of "Freedom."

Who founded Mars, Incorporated?
Mars was founded by Frank C. Mars in 1911 in Tacoma, Washington. Frank Mars started the company producing butter cream candies. His son, Forrest Mars Sr., later joined the business and drove its global expansion, developing M&M's in 1941 and establishing Mars operations in the United Kingdom. The Mars family has maintained ownership and control across multiple generations.

Where is Mars, Incorporated headquartered?
Mars, Incorporated is headquartered in McLean, Virginia, USA, in the Washington metropolitan area. The Mars Snacking division is headquartered in Chicago, Illinois, following the Kellanova acquisition. The company operates manufacturing facilities and offices in more than 80 countries worldwide.

How many brands does Mars, Incorporated own?
Mars owns approximately 50+ brands across its four primary segments. The portfolio includes 9 billion-dollar brands in snacking alone (M&M's, Snickers, Twix, Skittles, Pringles, Cheez-It, Pop-Tarts, Kellogg's, and Dove/Galaxy), plus major pet care brands including Pedigree, Whiskas, and Royal Canin. The company also operates veterinary service brands including Banfield, VCA, and BluePearl.

Who owns Mars, Incorporated?
Mars, Incorporated is owned entirely by the Mars family, descendants of founder Frank Mars and his son Forrest Mars Sr. The family has maintained complete ownership across multiple generations, making Mars one of the world's largest family-owned businesses. No external investors, private equity firms, or public shareholders hold equity in the company.

What was Mars's largest acquisition?
Mars's largest acquisition was the $36 billion purchase of Kellanova, completed on December 11, 2025. Kellanova's portfolio included Pringles, Cheez-It, Pop-Tarts, RXBAR, and Kellogg's international cereal brands. The deal created a combined Mars Snacking division generating approximately $36 billion in annual revenue. Prior to Kellanova, Mars's largest acquisition was the approximately $23 billion purchase of Wrigley in 2008.

What is Mars's annual revenue?
Mars generates approximately $65 billion in annual revenue (FY2025, estimated). The company does not publicly disclose detailed financial results because it is privately held. Revenue estimates come from company press releases, credit rating agencies, and reputable business press. Following the Kellanova acquisition, Mars's snacking division alone generates approximately $36 billion in annual revenue.

Mars, Incorporated was founded on June 23, 1911, by Frank C. Mars in Tacoma, Washington. The company's first product was butter cream candies, sold under the Mar-O-Bar brand. Frank Mars had learned candy making from his mother, Alva, who made and sold candies to support the family during his childhood. The early business was modest, operating out of a small kitchen in Tacoma.

In 1920, Frank Mars relocated the company to Minneapolis, Minnesota, where he began expanding the product line. The breakthrough came in 1923 with the invention of the Milky Way bar. Frank and his son Forrest developed a chocolate bar with a nougat center, inspired by the popular malted milkshake. The Milky Way was an immediate commercial success because it tasted like a milkshake but could be sold at room temperature, a significant advantage in an era before widespread refrigeration. The company moved to Chicago in 1929, a location that remains central to Mars operations today.

Forrest Mars Sr. played a critical role in the company's global expansion. After a falling-out with his father in the early 1930s, Forrest moved to England and established a separate Mars confectionery business. He developed the Mars bar in 1932, a chocolate-covered caramel and nougat bar that became one of the most successful confectionery products in British history. Forrest also developed Maltesers in 1936, a malted milk ball candy that remains popular in the UK and Commonwealth markets.

In 1941, Forrest Mars Sr. and Bruce Murrie, son of Hershey president William Murrie, patented M&M's. The candy-coated chocolate pieces were inspired by Smarties, which Forrest had seen soldiers eating during the Spanish Civil War. The sugar shell prevented chocolate from melting, making M&M's ideal for military rations. The U.S. military became a major customer during World War II, and the brand's popularity carried over to the civilian market after the war. The partnership with Murrie gave Hershey a 20% stake in M&M's, which Mars later bought out.

Mars expanded into pet food in the 1930s with the acquisition of Chappie, a British dog food brand. This acquisition laid the foundation for what would become Mars Petcare, now the world's largest pet care business. The company continued building its pet food portfolio through the decades, acquiring Kal Kan Foods in 1968 and developing the Pedigree brand into a global leader.

The 1980s and 1990s saw Mars accelerate its international expansion and category diversification. The company acquired Dove (Galaxy in the UK) in 1986, expanding its chocolate portfolio with a premium brand. In 2001, Mars acquired Royal Canin for approximately $1.5 billion, establishing a major presence in premium and breed-specific pet nutrition. This was followed by the acquisition of Iams and Eukanuba from Procter & Gamble in 2014 for $2.9 billion, consolidating Mars's position in the North American pet food market.

Mars has also expanded into veterinary services, not just pet food. The company acquired Banfield Pet Hospital in 2007, creating the largest private veterinary practice network in the United States. Subsequent acquisitions of BluePearl (2015), VCA (2017, for $9.1 billion), and Anicura (2018) built Mars into the largest operator of veterinary hospitals and clinics worldwide. The VCA acquisition was one of Mars's largest deals prior to Kellanova and signaled the company's strategy of building a vertically integrated pet care business spanning food, diagnostics, and clinical services.

In the food segment, Mars acquired Uncle Ben's rice in 1964, later rebranded to Ben's Original in 2020. The company also built the Dolmio pasta sauce brand in the UK and Australian markets. Mars acquired the Wrigley Company in 2008 for approximately $23 billion, adding chewing gum and mint brands including Extra, Orbit, and Doublemint. The Wrigley acquisition was Mars's largest deal until Kellanova and brought the company into the chewing gum category. Mars later merged its chocolate and Wrigley businesses into a single Mars Wrigley confectionery division.

The most transformative acquisition in Mars's history was the completion of its $36 billion purchase of Kellanova on December 11, 2025. Mars announced the deal on August 14, 2024, and it received Kellanova shareholder approval on November 1, 2024. The transaction required 28 separate regulatory approvals across global jurisdictions. The European Commission launched an in-depth antitrust investigation in June 2025 over concerns about retailer negotiating power and consumer choice. The Commission granted unconditional approval on December 8, 2025, clearing the way for closing three days later.

The Kellanova acquisition brought Pringles, Cheez-It, Pop-Tarts, Rice Krispies Treats, RXBAR, and Kellogg's international cereal brands into the Mars portfolio. The combined Mars Snacking division now generates approximately $36 billion in annual revenue with 9 billion-dollar brands and operates in more than 145 markets with over 50,000 employees. Mars financed the deal through loans and long-term debt, which prompted S&P to downgrade the company's credit rating to A from A+. The integration involves aligning more than 50,000 employees across manufacturing, distribution, and brand teams, a process that industry analysts expect to take several years.

Mars has published sustainability commitments focused on climate, packaging, and supply chain ethics. The company has set science-based targets for greenhouse gas reduction, including a commitment to achieve net-zero emissions across its full value chain by 2050. Mars's near-term target, validated by the Science Based Targets initiative, covers Scope 1, 2, and 3 emissions with a 27% reduction by 2025 from a 2015 baseline.

In sustainable sourcing, Mars has committed to deforestation-free supply chains for key commodities including cocoa, palm oil, beef, and soy. The company is a member of the Roundtable on Sustainable Palm Oil (RSPO) and sources 100% RSPO-certified palm oil. Mars's Cocoa for Generations program, launched in 2018, invests in sustainable cocoa farming practices and child labor monitoring in West African supply chains.

Packaging reduction is a focus area. Mars has committed to making 100% of its packaging reusable, recyclable, or compostable by 2025, though the company has acknowledged challenges in meeting this target across all markets and product formats. The company has invested in plastic reduction through lightweight packaging and recycled content initiatives.

Mars is not a Certified B Corporation. The company's sustainability reporting is published in its annual Sustainable in a Generation report, which covers environmental and social performance metrics. This report is a first-party source and should be evaluated alongside independent assessments from CDP and other third-party organizations.

The company has faced criticism from environmental groups regarding the pace of its packaging reduction efforts and the environmental impact of its global supply chain, particularly in cocoa sourcing where child labor remains an industry-wide challenge. Mars has responded with increased investment in supply chain monitoring and farmer support programs.

Mars has received recognition for its workplace culture, sustainability efforts, and brand strength:

• Fortune Best Companies to Work For: Mars has been consistently recognized on Fortune's annual list, reflecting the company's investment in employee development and workplace culture across its global operations.
• Ethisphere World's Most Ethical Companies: Mars has appeared on this list multiple times, recognizing the company's ethics and compliance programs.
• CDP Climate Leadership: Mars has received CDP recognition for its climate disclosure and emissions reduction commitments.
• Science Based Targets initiative validation: Mars's emissions reduction targets have been validated by SBTi as aligned with the 1.5 degree Celsius pathway.
• Forbes America's Best Employers: Mars has appeared on this list, reflecting strong employee satisfaction scores.

The Kellanova acquisition drew significant regulatory scrutiny. The European Commission launched an in-depth antitrust investigation in June 2025, examining concerns that combining Mars's confectionery portfolio with Kellanova's salty snacks and cereals could give the company excessive leverage in retailer negotiations and reduce consumer choice. The Commission granted unconditional approval on December 8, 2025, but the level of examination reflects ongoing regulatory pressure on large food industry consolidation. The deal required 28 separate regulatory approvals across global jurisdictions.

Cocoa supply chain ethics have been a persistent area of controversy for Mars and the broader chocolate industry. Mars, along with other major chocolate companies, has faced lawsuits and public criticism regarding child labor in West African cocoa supply chains. A 2021 U.S. Supreme Court case (Nestle USA v. Doe) involved claims against Mars and other companies under the Alien Tort Statute, though the Court ruled that the claims could not be brought under that statute. Mars has invested in child labor monitoring and remediation programs through the International Cocoa Initiative and its Cocoa for Generations program.

The company has faced criticism over the environmental impact of its packaging, particularly single-use plastics in confectionery products. Environmental organizations have called for faster progress on Mars's packaging sustainability commitments. Mars has acknowledged that meeting its 100% reusable, recyclable, or compostable packaging target by 2025 is challenging and has extended timelines in some markets.

In 2020, Mars rebranded Uncle Ben's rice to Ben's Original following criticism that the brand's imagery perpetuated racial stereotypes. The company acknowledged the concerns and worked with stakeholders to develop a new brand identity that removed the controversial imagery while preserving brand recognition.