Have you ever opened a bag of M&M’s and then set a n open pack of spearmint gum next to it? If you leave it there for a few hours, your chocolate will begin to taste minty. Don’t believe me? Try it.
M&M’s candy maker Mars Inc has teamed up with billionaire Warren Buffett to buy No. 1 chewing gum manufacturer Wm Wrigley Jr Co (WWY.N) for $23 billion, creating the world’s largest confectionery company.
The deal, announced on Monday, will give Buffett’s Berkshire Hathaway Inc (BRKa.N) a stake of more than 10 percent in Wrigley, which will become a separate Mars subsidiary. Buffett’s other food holdings include a stake in Kraft Foods Inc (KFT.N).
I find it fascinating that Wrigley is worth $23 billion.
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