Mars plans to invest another $2 billion into its United States factories over the next 18 months, reported The Wall Street Journal.
“The $2 billion is on top of $6 billion Mars has already invested over the past five years, which it said added 9,000 jobs in the U.S. Mars said that 94% of its products sold in the U.S. are now made in America. The new investment will allow Mars to scale its brands and grow businesses it acquired, such as a new facility for Nature’s Bakery in Utah,” wrote WSJ.
The investment will reportedly span Mars snacking, food and pet-care businesses.
“We’re convinced about the long-term strength of the American consumer,” said Claus Aagaard, Mars’ chief financial officer.
Aagaard said that the earmarked investment will go toward building new facilities, similar to the Nature’s Bakery site in Utah, and a Royal Canin pet-food facility it opened in Ohio earlier this year. It will also go towards improving automation at older facilities, he said.
“Snacking is a growing category and how consumers snack is continuing to evolve,” Aagaard said. There are consumers who want more choices that fit their lifestyles—whether that means plant-based ingredients, smaller portions or options with whole grains, he added. “We’re seeing strong momentum behind brands like Nature’s Bakery and Trü Frü, which tap into that shift.”
In April, Chobani announced that it is investing $1.2 billion in a new 1 million-square-foot plant in upstate New York, as well as investing $500 million into the expansion of its Twin Falls, Idaho plant.
Last month, NACS Daily reported on what new products are launching at Mars—Snickers is teaming up with Buffalo Bills quarterback Josh Allen to launch limited edition collectible Snickers and Snickers Ice Cream packs, each featuring Allen; and a new Twix Snickerdoodle hit shelves this month.