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.
source
