Mars announces $2 billion change and it’ll make a big difference in the US
A GIANT American candy maker is pumping serious dough into homegrown sweets.
Mars, makers of M&Ms and Twix, is investing $2 billion in U.S. manufacturing through next year.
AFPThe popular candy maker is adding a health item to its line of snacks[/caption]
But there’s a twist.
The move will fuel the Milky Way maker’s production of healthier alternatives.
This funding will support a $237 million facility for Nature’s Bakery in Salt Lake City, Utah.
Nature’s Bakery – recently acquired by Mars – is known for its plant-based, non-GMO candy bars.
The new facility has the nuts and bolts to crank out about one billion candy bars a year and create more than 230 new jobs.
Ryan Starks, executive director of the Utah Governor’s Office of Economic Opportunity, said in a press release that the company “aligns with our state’s health-conscious lifestyle and love for outdoor activities.”
“With Utah’s strong emphasis on well-being and sustainability, Nature’s Bakery’s offerings are poised to resonate with our communities,” he added.
AMERICAN MADE
The candy giant has already invested more than $6 billion in U.S. manufacturing in the last five years.
“The U.S. is our biggest and most important market,” Mars CFO Claus Aagaard said in a press release.
The candy maker’s latest developments come as President Donald Trump launches an onslaught of import tariffs around the world.
The president hopes his initiatives would force multinational companies to bring back manufacturing to America.
“Salt Lake City is a premier destination for business, and we’re happy to welcome Nature’s Bakery to the community,” Salt Lake City Mayor Erin Mendenhall said in a press release.
“With over 190 new high-quality jobs, businesses like Nature’s Bakery, which support the needs of our workforce, are an important part of growing the economy for our families.
Golden Tooth
Tariffs could raise the prices of candy
President Donald Trump’s tariffs could spike the costs of snacks and candy, according to an analysis by Abasto, a trade publication for the Hispanic food and beverage industry.
That’s because raw materials such as a bulk of sugar, cocoa and vegetable oils are imported.
The U.S. Department of Agriculture reports that 30% of refined sugar comes from Mexico, Brazil, and the Dominican Republic.
And most cocoa, the base for many chocolate products, is imported from Ivory Coast and Ghana.
Imposing tariffs on these and other goods could lead to a 15% boost in prices for food products, according to a 2024 report from the Food Institute.
“This is a win for Salt Lakers and everyone who loves to live, work, and play here,” he added.
President and CEO of EDCUtah Scott Cuthbertson chimed in, “Nature’s Bakery’s investment is a reflection of Team Utah’s collaborative and thorough recruitment process.”
“And we appreciate the close involvement from Utah’s community partners and utility providers”
“We look forward to continuing to partner with Nature’s Bakery as they grow and prosper in Salt Lake City,” he continued.
Mars isn’t the only company boosting U.S. manufacturing amid tariff threats.
General Motors announced it is increasing U.S. production to soften the blow of tariffs.
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