M&M's Maker Mars Gives Rare Peek Into Its $70 Billion Future
- Closely held company plans to stay private forever, CEO says
- Pet push is smart hedge as candy consumption scrutinized more
Photographer: Victor J. Blue/Bloomberg
This article is for subscribers only.
Mars Inc., the closely held company best known for treats like M&M’s and Snickers bars, looks to double the size of the business over the next 10 years as it expands deeper into pet care and non-confectionery nutrition.
Chief Executive Officer Grant Reid announced the goal in an interview with Bloomberg Businessweek, offering a rare peek into the ambitions of a family-owned company that isn’t required to disclose its financial data. Such an increase could push sales at the 107-year-old company beyond $70 billion, up from about $35 billion now, and it plans to do so without going public. That would make its sales about as big as Target Corp. or Procter & Gamble Co. are today.