Fresh Take: An Inside Look At America’s Largest Candy Company

After last week’s scoop, I’m closing out the year with a sweet exclusive. Mars Inc. is notoriously one of the most private companies in the entire food industry. It’s also one of the largest, though the candy, packaged food and pet food company rarely shares details about how big its business really is.

In my feature this week, that changes. Mars’ annual revenue now tops more than $50 billion, the first time its business has crossed that threshold. I’ve also confirmed that Mars’ candy business alone—including Snickers bars, M&Ms and Twix—accounts for $18 billion in annual revenue, and that Mars aims to double that to $36 billion within the next decade. That’s a lot of chocolate bars.

I found out why Mars thinks it can make that ambition a reality, and I’m excited to hear what you think about the audacious plan. It’s been a wild year for the food business, and I thank you for being on this ride with me. This will be the last edition of Fresh Take in 2023. I’m wishing you a relaxing holiday season, and I’m looking forward to coming back to your inbox in January!

— Chloe Sorvino, Staff Writer

Order my book, Raw Deal: Hidden Corruption, Corporate Greed and the Fight for the Future of Meat, out now from Simon & Schuster’s Atria Books.

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What’s Fresh

Exclusive: Mars Unveils Strategy To Double Snacking Revenue To $36 Billion

In an age of protein bars and Ozempic, America’s biggest candy company faces the challenge of satisfying consumers’ growing hunger for healthier eating.

Startup Aims To Prevent Workers’ Back Injuries With ‘Exosuit’ That’s Practical Rather Than ‘Iron Man’ Flashy

Verve Motion, which built its business under the radar, told Forbes that it’s raised $40 million in venture funding to get its high-tech wearables into warehouses.

Mission-Driven Food Companies Aren’t Waiting To Act On Climate

Food businesses are facing massive challenges, but there are also real, impactful opportunities to scale solutions up and out.

Milk Consumption Is Down. Celebrity-Backed Ads Won’t Change That.

“Milk shame“ isn’t real. But the Big Dairy industry’s problems are.

Field Notes

Latkes made by my sister Emery—complete with homemade applesauce (with apples from our CSA), sour cream and roe. Let’s spread light this holiday season.

Thanks for reading the 96th edition of Forbes Fresh Take! Let me know what you think. Subscribe to Forbes Fresh Take here.

Chloe Sorvino leads coverage of food and agriculture as a staff writer on the enterprise team at Forbes. Her book, Raw Deal: Hidden Corruption, Corporate Greed and the Fight for the Future of Meat, published on December 6, 2022, with Simon & Schuster’s Atria Books. Her nearly nine years of reporting at Forbes has brought her to In-N-Out Burger’s secret test kitchen, drought-ridden farms in California’s Central Valley, burnt-out national forests logged by a timber billionaire, a century-old slaughterhouse in Omaha and even a chocolate croissant factory designed like a medieval castle in northern France.