Mars Inc. (the chocolate story)
Acquired
2024/12/16
Mars Inc. (the chocolate story)
Mars Inc. (the chocolate story)
Acquired
2024/12/16
Discover the remarkable story of Mars, Inc., a privately held conglomerate that owns beloved brands like M&Ms, Snickers, and Milky Way. This podcast delves into the entrepreneurial journey of the Mars family, their innovative approaches to candy-making, and their expansion into pet care, making them one of the wealthiest yet secretive families in the United States.
The podcast chronicles the rise of Mars, Inc., starting with Frank Mars's passion for candy-making inspired by his childhood illness. His son Forrest played a crucial role, innovating products like Snickers and expanding globally during wartime. Forrest’s move to Europe allowed him to refine chocolate-making techniques, leading to the creation of iconic candies such as M&Ms. The company adopted efficient business practices, focusing on quality and responsibility while reinvesting profits into R&D. By strategically acquiring brands and entering the pet food market, Mars became a global leader in confectionery and pet care. Their competitive edge over Hershey was driven by effective marketing and shelf placement strategies. Today, Mars continues to diversify through strategic acquisitions, maintaining its dominance in candy and pet food industries.
05:40
05:40
Frank Mars contracted polio as a child, influencing his love for candy-making.
28:30
28:30
Milton Hershey's slightly sour chocolate became iconic due to being first to market.
46:35
46:35
Frank releases the Milky Way bar in 1924, boosting sales significantly.
1:09:19
1:09:19
Forrest leaves America with $50,000 and foreign rights to Milky Way, vowing never to return.
1:18:29
1:18:29
Forrest Mars names his product the Mars Bar, distinguishing it from the Milky Way with variations in sweetness, malt level, and chocolate type.
1:35:54
1:35:54
Mars Inc. uses ROTA as a key metric, aiming for an 18% return on assets.
1:54:01
1:54:01
Forrest secured a deal with Hershey to create M&Ms, leveraging their exclusive military chocolate supply.
2:27:50
2:27:50
Forrest sets a six-month deadline to make Mars profitable without Hershey's chocolate.
2:37:09
2:37:09
Hershey kept the price of its chocolate bar at a nickel from 1900 to 1969, shrinking the bar size to manage inflation.
2:46:33
2:46:33
Forrest Mars Sr. started Ethel M. Chocolates at age 76, specializing in liquor-filled chocolates.
2:52:38
2:52:38
Mars bought Wrigley for $23 billion in 2008 with help from Warren Buffett.
3:19:09
3:19:09
The E.T. movie deal tripled Reese's Pieces sales.
