Mars Inc. - The Chocolate Story (Audio)

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! Sponsors: Many thanks to our fantastic Fall ‘24 Season partners: J.P. Morgan Payments https://bit.ly/acquiredJPMPF245yt Crusoe https://bit.ly/acquiredcrusoefall24 Statsig https://bit.ly/acquiredstatsig24 Links: Hershey’s M&M response: Hershey-ets https://shop.hersheys.com/holiday/sweet-treats/032284016385.html Our past episodes on Berkshire Hathaway https://www.acquired.fm/episodes/berkshire-hathaway-part-i LVMH https://www.acquired.fm/episodes/lvmh Novo Nordisk https://www.acquired.fm/episodes/novo-nordisk-ozempic Worldly Partners Multi-Decade Mars Study https://worldlypartners.com/wp-content/uploads/2024/12/Mars-Inc.pdf Episode sources https://docs.google.com/document/d/1saoPN-Scw7bcyf4nbNNY10Ek5GuVwQep6eIq0-bAK6U/edit?usp=sharing Carve Outs: Dandelion Chocolate https://www.dandelionchocolate.com The Dandelion Chocolate Advent Calendar https://www.dandelionchocolate.com/products/2025-advent-calendar-preorder Tesla Model Y + repair service https://ts.la/ben11770 Silo https://www.imdb.com/title/tt14688458/ Home Alone https://www.imdb.com/title/tt0099785/ More Acquired: Get email updates with hints on next episode and follow-ups from recent episodes https://www.acquired.fm/email Join the Slack http://acquired.fm/slack Subscribe to ACQ2 https://pod.link/acquiredlp Check out the latest swag in the ACQ Merch Store! https://www.acquired.fm/store Note: Acquired hosts and guests may hold assets discussed in this episode. This podcast is not investment advice, and is intended for informational and entertainment purposes only. You should do your own research and make your own independent decisions when considering any financial transactions.