A running joke among residents of McLean, Virginia is that the most secretive organisation headquartered in their suburb is not the CIA, but rather the Mars company. But it has just agreed to the biggest US deal of 2024.
A running joke among residents of McLean, Virginia is that the most secretive organisation headquartered in their Washington D.C. suburb is not the Central Intelligence Agency, but rather a confectionery and pet products company.
The vast majority of the Mars family fortune is derived from the eponymous company, one of the few conglomerates to have snubbed a stock market listing in favour of secrecy. The company says this allows it to make decisions for the long term without worrying about investors scrutinising its earnings every quarter.
As she prepared to stand down as senior vice president of corporate development later this year, Valerie Mars helped the company’s CEO Poul Weihrauch, who led the negotiations on the deal with Kellanova CEO Steve Cahillane, the sources said. Valerie Mars, the 65-year-old great-granddaughter of Franklin Clarence Mars, who started the company as a candy factory in 1911, is said to be spearheading the company’s deals.
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