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00:02Mars, the maker of M&M's and Snickers, announced plans Tuesday to invest about $1.4 billion in
00:10U.S. manufacturing in 2027 to accelerate growth and innovation, according to Reuters.
00:16The investment will modernize manufacturing facilities,
00:19strengthen its supply chain, and improve operations. The announcement comes as the
00:24packaged food industry faces sluggish consumer spending and shifting demand toward healthier
00:29diets. Mars manufactures about 94% of the products it sells in the U.S. domestically,
00:35according to CFO Klaus Augard. The company has invested more than $9 billion in U.S. operations
00:41since 2017. Following its $36 billion acquisition of Kelanova last year, Mars added 15 factories
00:49and plans additional manufacturing upgrades. Recent investments include expanding true-fru
00:54snack production and modernizing pet food operations. For all things money, visit Benzinga.com.
