Milling & Baking News Corporate Profiles - 2019 - 96

COMPANY OVERVIEW

Mars, Inc.
Planting seeds of change through accelerator and sustainability initiatives
ith more than $35 billion in annual
revenues, Mars, Inc., McLean, Va., remains a family-owned business and
the producer of confectionery, pet care and food
brands, including M&M's, Snickers, Starburst,
Skittles, Uncle Ben's and others. The company
divested its $350 million coffee businesses to
The Lavazza Group at the end of last year.
"Mars Drinks has been an important part of
our business for many years, and while it's always hard to say goodbye to great brands, valued associates and friends, we believe now is
the right time for a change," said Grant F. Reid,
president and chief executive officer of Mars.
"We are confident this decision will better enable
long-term success for the Drinks business with
Lavazza - a company that shares our values
and has a dedicated focus on beverages - and
will allow the business and its associates to continue to thrive."
In March, Mars launched the Seeds of Change
Accelerator to support early-stage businesses
with new ideas across a range of product categories. Six start-ups selected to participate in
the program tap into a cross-section of industry
trends propelling food and beverage product development, most notably flavor discovery, health
and nutrition, and condiments. Each business

received a $50,000 grant and the opportunity to
participate in a four-month mentorship program.
"The food space is moving at an incredible
pace today; consumers' tastes and wants are
changing faster and more frequently than ever,"
said Clarence Mak, chief marketing, sales and
innovation officer for Global Mars Food. "The
Seeds of Change Accelerator will help forwardthinking entrepreneurs and innovators scale
their ideas and ultimately enhance the meals
of tomorrow.
"At the same time, Mars also gains value in
leveraging the accelerator as an external innovation tool and an opportunity to take a wider view
across the food ecosystem to move the business
toward the front line of rapidly evolving trends."
In June, Mars agreed to acquire a majority
stake in Foodspring, a Berlin-based direct-toconsumer targeted nutrition company. Under
terms of the transaction, Foodspring will remain a standalone business within Mars Edge, a

segment of Mars, Inc. that was founded in 2017
with a focus on targeted nutrition.
Sustainability has become a significant focus
of Mars. In September, the company launched
an initiative to further reduce greenhouse gas
emissions as part of an ongoing commitment
to achieve 100% renewable energy in its operations by 2040. The company also has called
on its suppliers to participate through programming such as signing on to science-based
emissions targets.
"Climate change is a real and tangible threat
to society," Mr. Reid said. "For example, in our
business, we already see it in the risk to livelihoods for smallholder farmers who provide most
of our raw ingredients."
Mars announced several leadership changes
throughout the year to support business transformation. In June, Russell Stokes was named to
the newly created role of chief strategy officer.
Cathryn Sleight joined the organization in August as president of business development, leading the Mars Wrigley team to explore new global
treating and snacking growth opportunities.
Anton Vincent was named regional president of
the Mars Wrigley North America region, succeeding Tracey Massey, who was promoted to global
president of Mars Pet Nutrition. CP

Chief executive officer -
Grant F. Reid

Mars at a glance

Stokes

More than $35 billion in
annual revenues

96 \ November 2019

Brands include M&M's, Snickers, Starburst, Skittles,
Uncle Ben's

Vincent

Sleight

New executives include Russell Stokes as chief strategy officer,
Anton Vincent as regional president of Mars Wrigley North America
region and Cathryn Sleight as president of business development.

Milling & Baking News * Food Business News * Baking & Snack * Meat+Poultry * Pet Food Processing

Seeks to achieve 100%
renewable energy in its
operations by 2040

Corporate Profiles

Milling & Baking News Corporate Profiles - 2019

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