In the late 1930s, Forrest Mars, the son of the founder of renowned American chocolate manufacturer Mars Inc., traveled to Europe to gain insights for taking over the family business. During his trip, he observed the Spanish Civil War and noticed British soldiers enjoying a type of chocolate covered with a colored sugar shell, sparking his interest.
This chocolate, known as “Smarties,” was produced by the British food company Rowntree's (later produced by Nestlé). The candy coating not only prevented the chocolate from melting but also kept hands clean, making it convenient to eat. Upon returning to the U.S., Forrest immediately set out to produce a similar product. However, chocolate ingredients were regulated at the time. Thus, he collaborated with Bruce Murrie, the son of the founder of the company that owned these ingredients. Forrest exchanged 20% of shares for production support, naming the new company Mars & Murrie, which became known as M&M's.
Inspired by his observations during the Spanish Civil War, Forrest Mars invented M&M's and patented it in 1941, starting production in New Jersey. In 2023, to avoid social division controversies, M&M's replaced its classic mascots with real people as brand ambassadors.
In recent business developments, Mars Inc. announced on January 9, 2023, the acquisition of pet healthcare provider VCA Inc. for approximately $7.7 billion to expand its presence in the pet industry. VCA Inc. has nearly 800 veterinary hospitals in the U.S. and Canada, 60 diagnostic labs serving veterinarians, as well as a dog daycare and pet boarding services.
Mars Inc. is famous for its chocolate brands like M&M's, Snickers, and Wrigley chewing gum. In 2014, the company acquired 80% of Procter & Gamble's pet food business, Pedigree, for $2.9 billion, further expanding its animal care business, including pet hospitals and animal DNA testing. Today, the pet business has become Mars Inc.'s second-largest sales division, with 39 brands and products sold in 50 countries. As of September 30 last year, VCA Inc.'s revenue was $2.41 billion with a profit of $232.1 million, while Mars Inc.'s annual revenue exceeded $35 billion.
Currently, there are no examples of regulated monopolies globally, drawing significant attention to Mars Inc.'s moves in industry mergers. Mars Inc.'s origins and development have been controversial, and the family remains notably low-profile, aiming for a monopoly in the pet food closed-loop market without global regulatory examples.
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