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M&M’s, Snickers, Milky Way, Double Mint, Ben’s Rice, Pedigree, Whiskas, VCA, Banfield… all the brands you know, owned by the company you know nothing about: Mars, Incorporated. And Mars itself is 100% owned and deeply intertwined with the Mars family, who are currently the second wealthiest (and perhaps first most secretive!) family in the United States. Tune in for one of the 20th century’s most incredible entrepreneurial stories across candy and pet care, and one that’s all the more incredible because it’s so little-known!
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The episode delves into the history of Mars Inc., a company that owns ubiquitous brands such as M&M’s, Snickers, and Milky Way. Hosts Ben Gilbert and David Rosenthal discuss how little is known about this privately held company despite its size and wealth owned by the Mars family, the second wealthiest family in America. The story combines themes of entrepreneurship, marketing, and family drama through the decades.
The narrative begins with Frank Clarence Mars, who started making candy as a child. Mars faced a series of failures in his early candy ventures but eventually found success with chocolate, which was a new product at the time. The hosts discuss the history of chocolate in America and how Frank transitioned to making chocolate, setting the groundwork for the future success of Mars Inc.
The discussion shifts to Frank Mars' son, Forest Mars, and his ambitious plans for the company. After enduring a difficult childhood, Forest returns from Europe with insights gained from working with chocolate makers. He innovates within the candy industry, using clever marketing tactics, such as leveraging relationships with advertising agencies and understanding consumer behavior, particularly during the candy bar boom.
Listeners learn about how Mars Inc. capitalized during and after World War II, especially with the production of M&Ms for the military. The discussion covers several key acquisitions that helped scale the business, including Ben’s Rice, and the innovations that made Mars the giant that it is today. The episode highlights how the chocolate market adapted to a changing landscape and how Mars became an indispensable player.
The podcast discusses how Mars Inc. diversified into pet care, acquiring brands like Pedigree and Whiskas, transitioning into becoming a pet food powerhouse. Although candy remains the most iconic product, the company finds its most significant revenue sources in the pet care segment, which shapes the company’s future. The hosts explore how the business has grown and transformed over the decades.
The podcast concludes with a look at the current structure of Mars Inc., including the continued growth and profitability of both its candy and pet food divisions. With substantial revenue from multiple sectors, the episode examines how Mars continues to maintain its position as one of the largest privately-held companies in America. The hosts speculate on the future of the company, especially amid changing consumer preferences.
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