Mars to acquire Mexican chocolate company
Candy manufacturer Mars Inc. announced Wednesday it plans to buy Grupo Turin, a Mexican manufacturer of high-end chocolates.
McLean-based Mars said the acquisition will help position the company to take advantage of the growing Mexican chocolate market.
Groupo Turin has been in business since 1928 and owns iconic brands Conejos and Turin. The transaction is expected to be completed in the first quarter of 2016 and is subject to approval from the Mexican Antitrust Commission.
“When this transaction is completed, we will be proud to welcome Turin associates to Mars,” says Jean-Christophe Flatin, global president of Mars, said in a statement. “The strong cultural heritage of the two companies and our shared commitment to develop best in class talent, quality products and brands are great fundamentals on which to deliver value to our customers and our consumers in Mexico.”
Mars owns major food and pet-food brands, including M&M’s Pedigree, Doublemint and Uncle Ben’s. The company reports $33 billion in annual sales and more than 75,000 employees in 73 countries.