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  4. M&M's
M&M's logo
Food & Beverage

Who Owns M&M's?

M&M's is owned by Mars, Incorporated, a privately held American multinational corporation headquartered in McLean, Virginia. Mars developed M&M's internally in 1941 as a candy-coated chocolate inspired by wartime rationing. The brand operates within Mars Snacking alongside Snickers, Twix, and Skittles. Mars reported approximately $55 billion in annual revenue in 2024 and completed its $35.9 billion acquisition of Kellanova in December 2025.

Parent Company

Mars, Incorporated

Founded

1941

Status

Private

Headquarters

McLean, Virginia, USA

M&M's Timeline

1911
Mars, Incorporated

Parent company established in McLean, Virginia, USA

Company Founded
1941

M&M's

Founded by Forrest Mars Sr., Bruce Murrie

Founded
mid rangemass marketGlobalall-agesOfficial Website

Who Owns M&M's?

  • Parent Company: Mars, Incorporated
  • Ownership Type: Wholly owned
  • Company Type: Privately Held
BrandParent CompanyOwnership Type
M&M'sMars, IncorporatedWholly owned

Where to Buy

Disclosure: We may earn commission from purchases
AmazonM&M's on Amazon

History of M&M's

  • Founded: 1941
  • Founders: Forrest Mars Sr., Bruce Murrie

Forrest Mars Sr. created M&M's in 1941. He was the son of Frank Mars, who had founded Mars, Incorporated in 1911. Forrest had been operating in Europe and observed British soldiers eating Smarties, which were chocolate pellets with a hard sugar shell. The shell prevented the chocolate from melting in warm conditions. Forrest patented the concept in the United States and partnered with Bruce Murrie, whose father William Murrie was president of Hershey Chocolate. The partnership gave Mars access to Hershey's chocolate supply during wartime rationing. The name "M&M" stands for Mars and Murrie.

The first M&M's were produced in 1941 at a factory in Newark, New Jersey. The original product was milk chocolate in a brown sugar shell. The United States military became an early customer, including M&M's in soldiers' rations during World War II. The hard shell made the candy practical for transport and storage in tropical climates where ordinary chocolate would melt. By 1948, the letter "M" was stamped on each piece to distinguish genuine M&M's from imitations.

Peanut M&M's launched in 1954. That same year, Mars introduced the slogan "Melts in your mouth, not in your hand," which became one of the most recognized advertising taglines in American history. The animated M&M's characters, known as "Spokescandies," also debuted in 1954. These characters, including Red, Yellow, Green, and Brown, became long-running brand mascots and appeared in television commercials for decades.

Bruce Murrie's stake in the partnership was bought out by Forrest Mars in 1949, making M&M's a wholly Mars-owned product. The brand expanded its color range over the years. Originally sold in brown packaging, M&M's added red, yellow, green, orange, and tan varieties in the 1960s and 1970s. Red M&M's were temporarily discontinued in 1976 due to concerns about Red Dye No. 2, a color additive the FDA banned that year. Mars replaced red with orange. Red M&M's returned in 1987 after the FDA confirmed the substitute dye, Red 40 Lake, was safe.

In 1981, M&M's became the first candy carried into space. NASA included M&M's in the space shuttle program's food supply, where astronauts referred to them as "candy-coated chocolates" in official mission logs. The brand has referenced this distinction in marketing materials for decades.

The product line expanded significantly in the 1990s and 2000s. Peanut Butter M&M's launched in 1990. Almond M&M's, originally a seasonal product, became a permanent variety. Pretzel M&M's introduced in 2010 added a salty crunch component. Caramel M&M's followed in 2017 and became one of the most successful new product launches in the brand's history, generating over $100 million in first-year retail sales. Mars also introduced limited-edition and seasonal flavors, including pumpkin spice, mint, and white chocolate varieties.

In 2004, M&M's opened its first retail store in Las Vegas, Nevada. The store sold customized M&M's with personal messages printed on the candy shell. Additional retail locations opened in New York, Orlando, and London. The brand also launched the "M&M's World" concept, combining retail with interactive exhibits.

In January 2022, Mars updated the Spokescandies characters as part of an inclusivity initiative. The Green M&M's go-go boots were replaced with sneakers, and the Brown M&M's stilettos were swapped for lower block heels. These changes drew criticism from conservative commentators, including Fox News host Tucker Carlson, who called the redesign "woke." In January 2023, Mars announced an "indefinite pause" of the Spokescandies and replaced them with comedian Maya Rudolph as spokesperson. Rudolph appeared in M&M's Super Bowl LVII commercial in February 2023. The Spokescandies later returned to marketing materials.

As of 2025, M&M's is sold in more than 100 countries and generates billions in annual revenue. The brand remains one of Mars' most valuable properties and continues to introduce new flavors and product formats, including M&M's Minis, M&M's Mega, and collaborative products with other Mars brands.

About Mars, Incorporated

What does Mars, Incorporated own?
Mars owns a portfolio of approximately 50+ brands across pet care, confectionery, savory snacks, and food categories. Its most recognized brands include M&M's, Snickers, Twix, Pedigree, Whiskas, Royal Canin, Pringles, Cheez-It, and Pop-Tarts. The company also owns the world's largest veterinary hospital network through Banfield, BluePearl, and VCA. The Kellanova acquisition in December 2025 added Pringles, Cheez-It, Pop-Tarts, RXBAR, and Kellogg's cereal brands to the portfolio.

Is Mars, Incorporated publicly traded?
No, Mars, Incorporated is entirely privately held by the Mars family. The company has never been publicly traded and has no stock exchange listing. This private ownership structure has been a consistent feature since the company's founding in 1911 and is enshrined in the company's Five Principles as the principle of "Freedom."

Who founded Mars, Incorporated?
Mars was founded by Frank C. Mars in 1911 in Tacoma, Washington. Frank Mars started the company producing butter cream candies. His son, Forrest Mars Sr., later joined the business and drove its global expansion, developing M&M's in 1941 and establishing Mars operations in the United Kingdom. The Mars family has maintained ownership and control across multiple generations.

Where is Mars, Incorporated headquartered?
Mars, Incorporated is headquartered in McLean, Virginia, USA, in the Washington metropolitan area. The Mars Snacking division is headquartered in Chicago, Illinois, following the Kellanova acquisition. The company operates manufacturing facilities and offices in more than 80 countries worldwide.

How many brands does Mars, Incorporated own?
Mars owns approximately 50+ brands across its four primary segments. The portfolio includes 9 billion-dollar brands in snacking alone (M&M's, Snickers, Twix, Skittles, Pringles, Cheez-It, Pop-Tarts, Kellogg's, and Dove/Galaxy), plus major pet care brands including Pedigree, Whiskas, and Royal Canin. The company also operates veterinary service brands including Banfield, VCA, and BluePearl.

Who owns Mars, Incorporated?
Mars, Incorporated is owned entirely by the Mars family, descendants of founder Frank Mars and his son Forrest Mars Sr. The family has maintained complete ownership across multiple generations, making Mars one of the world's largest family-owned businesses. No external investors, private equity firms, or public shareholders hold equity in the company.

What was Mars's largest acquisition?
Mars's largest acquisition was the $36 billion purchase of Kellanova, completed on December 11, 2025. Kellanova's portfolio included Pringles, Cheez-It, Pop-Tarts, RXBAR, and Kellogg's international cereal brands. The deal created a combined Mars Snacking division generating approximately $36 billion in annual revenue. Prior to Kellanova, Mars's largest acquisition was the approximately $23 billion purchase of Wrigley in 2008.

What is Mars's annual revenue?
Mars generates approximately $65 billion in annual revenue (FY2025, estimated). The company does not publicly disclose detailed financial results because it is privately held. Revenue estimates come from company press releases, credit rating agencies, and reputable business press. Following the Kellanova acquisition, Mars's snacking division alone generates approximately $36 billion in annual revenue.

  • Founded: 1911
  • Headquarters: McLean, Virginia, USA
  • Company Type: Privately Held
  • Revenue: approximately $65 billion (FY2025, estimated)
  • Employees: approximately 170,000

Visit Mars, Incorporated website

View full company profile for Mars, Incorporated

Where Is M&M's Made / Based?

  • Headquarters: McLean, Virginia, USA
  • Manufacturing / Operations: United States, Netherlands, Australia, China

M&M's Categories & Tags

CandyChocolateConfectionerySnacksMarsAmerican Brand

M&M's Sustainability & Ethics

M&M's operates under Mars' corporate sustainability framework, known as "Sustainable in a Generation." Mars has committed to achieving net zero greenhouse gas emissions across its entire value chain by 2050, with science-based targets aligned with the Paris Agreement. By the end of 2024, Mars reported a 16.4% reduction in absolute emissions compared to its 2015 baseline, while growing revenue over 69% during the same period, according to its 2024 Sustainable in a Generation Report.

Cocoa sourcing is a central focus for M&M's because chocolate is the brand's primary ingredient. Mars' Cocoa for Generations strategy aims to achieve a segregated, fully traceable global cocoa supply chain. The company participates in the Cocoa and Forests Initiative and collaborates with the World Cocoa Foundation. Mars has also implemented the ACTIVE program in Indonesia, which trains farmers in agroforestry practices to increase crop yields while reducing water usage and environmental impact.

Mars is working to address deforestation in cocoa-producing regions, particularly in West Africa. The company maintains supplier requirements for sustainable agricultural practices and has committed to a deforestation-free supply chain. However, Mars has not published independently verified progress data on deforestation reduction at the farm level.

On packaging, Mars is investing in recyclable and compostable materials for M&M's packaging. The company has set targets to reduce virgin plastic use and increase recycled content, though specific progress figures for M&M's packaging have not been publicly disclosed.

Mars is not a certified B Corporation. M&M's does not carry organic or Fair Trade certification. The brand's sustainability claims are based on Mars' corporate-level programs rather than brand-level independent certification. Readers should note that Mars' private ownership means sustainability reporting is voluntary and not subject to SEC disclosure requirements.

Awards & Recognition

M&M's was the first candy carried into space by NASA, included in space shuttle mission food supplies starting in 1981. Astronauts referred to them as "candy-coated chocolates" in official mission logs. This distinction has been referenced in Mars marketing materials for decades.

The brand's "Melts in your mouth, not in your hand" slogan, introduced in 1954, is one of the most recognized advertising taglines in American marketing history. The Spokescandies characters have appeared in advertising campaigns that have received recognition from advertising industry organizations, though specific award names and years from independent bodies are not consistently documented in public records.

M&M's Caramel, launched in 2017, generated over $100 million in first-year U.S. retail sales, making it one of the most successful new product launches in the confectionery category that year. The brand has been included in Forbes' list of most valuable global brands in multiple years, though specific rankings vary.

Mars as a corporation has received recognition for workplace practices and sustainability initiatives from organizations including the Ethisphere Institute and Fortune's Best Companies lists. These awards apply to Mars, Incorporated rather than M&M's specifically.

M&M's Recalls & Controversies

M&M's has faced no major product safety recalls in its history. The brand has, however, been involved in two significant controversies.

Synthetic food dye investigation (2025): In July 2025, Texas Attorney General Ken Paxton launched a formal investigation into Mars over its continued use of synthetic food dyes in M&M's and Skittles sold in the United States. Mars pledged in 2016 to remove all artificial colors from its human food products globally. The company later reversed this commitment for the U.S. market, citing consumer preference research, while removing artificial colors from products sold in Europe. The Texas AG's office issued a Civil Investigative Demand alleging deceptive trade practices, stating that synthetic dyes used in M&M's, including Red 40 Lake, Yellow 5, and Yellow 6, have been linked to health concerns including ADHD. Mars responded that its ingredients comply with FDA regulations and that it is "actively exploring choice product alternatives." Several competitors, including Nestle, Hershey, and Kraft Heinz, have committed to removing synthetic dyes by 2028. HHS Secretary Robert F. Kennedy Jr. urged the food industry to voluntarily remove six synthetic dyes by 2027. The investigation is ongoing as of August 2025.

Spokescandies culture war controversy (2022 to 2023): In January 2022, Mars redesigned its Spokescandies characters as part of an inclusivity initiative, replacing the Green M&M's go-go boots with sneakers and the Brown M&M's stilettos with lower block heels. Fox News host Tucker Carlson criticized the changes on multiple broadcasts, calling the redesign "woke." In January 2023, Mars announced an "indefinite pause" of the Spokescandies and replaced them with comedian Maya Rudolph as spokesperson. Rudolph appeared in M&M's Super Bowl LVII commercial in February 2023. The Spokescandies later returned to marketing materials. The controversy generated significant media coverage but resulted in no regulatory action or legal proceedings.

Brands Owned by Mars, Incorporated

CelebrationsFood Beverage

Celebrations

Owned by Mars, Incorporated

British chocolate assortment brand featuring a variety of chocolate candies, owned by Mars, Incorporated and distributed globally.

chocolateassortmentcandies
Cheez-ItFood Beverage

Cheez-It

Owned by Mars, Incorporated

American brand of cheese cracker snacks owned by Mars, Incorporated through its Kellanova subsidiary. Created in 1921 in Dayton, Ohio.

snackscrackerscheese
Galaxy ChocolateFood Beverage

Galaxy Chocolate

Owned by Mars, Incorporated

British chocolate brand owned by Mars, Incorporated, known for smooth and creamy chocolate bars and confectionery products.

chocolatechocolate-barsconfectionery
IamsPet Care

Iams

Owned by Mars, Incorporated

American pet food brand known for premium dog and cat food formulations, owned by Mars Petcare since 2014.

pet-fooddog-foodcat-food
MaltesersFood Beverage

Maltesers

Owned by Mars, Incorporated

British chocolate brand owned by Mars, Incorporated, known for malted milk balls covered in milk chocolate.

chocolateconfectionerymalted-milk-balls
Milky WayFood Beverage

Milky Way

Owned by Mars, Incorporated

American nougat, caramel, and chocolate candy bar owned by Mars, Incorporated, introduced in 1923. One of the oldest candy bars still in production in the United States, with a distinct formulation difference between US and European versions.

chocolatecandy-barnougat
View all brands owned by Mars, Incorporated

M&M's Ownership: Pros & Cons

Advantages

  • +Access to Mars' global manufacturing network across 80-plus countries
  • +Significant R&D investment from a corporation with 20 research centers
  • +Brand stability from 84 years of continuous Mars ownership with no ownership changes
  • +Financial backing from a company with approximately $55 billion in annual revenue
  • +Distribution scale through Mars' vertically integrated supply chain

Considerations

  • -Mars is privately held, limiting public financial transparency for M&M's performance data
  • -Active regulatory investigation into synthetic dye use may require product reformulation
  • -Sugar and artificial ingredient scrutiny from health-conscious consumers and regulators
  • -Cocoa price volatility directly impacts production costs and margin pressure
  • -Dependency on Mars corporate strategy with no independent operational control

Frequently Asked Questions About M&M's

Sources & Further Reading

  • Mars 2024 Sustainable in a Generation Report:
  • Mars Completes Acquisition of Kellanova (December 2025):
  • Mars Acquisition of Kellanova Announcement (August 2024):
  • Texas AG Investigation into Mars Synthetic Dyes (July 2025):
  • Reuters: Texas probes M&M maker Mars over synthetic food dyes:
  • Mars Artificial Colors Policy Statement:
  • NPR: M&M's replaces spokescandies with Maya Rudolph (January 2023):
  • Forbes: Mars Company Profile:
  • Mars Cocoa for Generations:
  • M&M's Official Website:

Competitors to M&M's

These competing brands operate in the same categories and provide similar products or services. Compare key attributes to understand market positioning and competitive landscape.

BrandParent CompanyCountryFoundedMarket PositionPrimary MarketGender Target
AeroAero
Nestle
United Kingdom
1935
Mass marketEuropeAll-ages
Baby RuthBaby Ruth
Ferrero
Italy
1921
Mass marketUnited statesAll-ages
SkittlesSkittlesSister Brand
Mars Inc
USA
1974
Mass marketGlobalAll-ages
SnickersSnickersSister Brand
Mars Inc
USA
1930
Mass marketGlobalUnisex
ButterfingerButterfinger
Ferrero
USA
1923
Mass marketUnited statesAll Genders
CrunchCrunch
Ferrero
Switzerland (Nestle global)
1938
Mass marketGlobalAll Genders

Learn More About Competitors

AeroFood Beverage

Aero

Owned by Nestlé S.A.

British chocolate brand known for its distinctive aerated, bubbly texture, produced and distributed by Nestle and sold primarily in the United Kingdom, Canada, and select international markets.

chocolateconfectionerysnacks
Baby RuthFood Beverage

Baby Ruth

Owned by Ferrero

American chocolate candy bar with peanuts, caramel, and chocolate, founded in 1921 by Curtiss Candy Company and owned by Ferrero Group since January 2018.

chocolateconfectionerycandy
SkittlesFood Beverage

Skittles

Owned by Mars, Incorporated

Fruit-flavored candy brand known for its colorful shell coating and "Taste the Rainbow" slogan. Owned by Mars, Incorporated.

candyconfectioneryfruit-flavored
SnickersFood Beverage

Snickers

Owned by Mars, Incorporated

American chocolate bar with nougat, caramel, peanuts, and milk chocolate, owned by Mars, Incorporated. The world's best-selling chocolate bar.

chocolatecandy-barconfectionery
ButterfingerFood Beverage

Butterfinger

Owned by Ferrero

American candy bar brand known for its peanut butter and chocolate flavor, owned by Ferrero Group.

candy-barchocolatepeanut-butter
CrunchFood Beverage

Crunch

Owned by Ferrero

Milk chocolate and crisped rice bar introduced by Nestle in 1938, now produced in the United States by Ferrara Candy Company (Ferrero) and globally by Nestle.

chocolateconfectionerycandy

Competitive Analysis

Market Positioning: M&M's competes with 6 brands in the same categories, ranging from mass market to luxury positioning.

Geographic Distribution: Competitors are headquartered across multiple regions, indicating global competition in this market segment.

Brand Heritage: Competitor brands range from established heritage brands to newer market entrants, with founding years spanning several decades.

Independent Alternatives to M&M's

Looking for brands with different ownership structures? These similar brands are not owned by Mars, Incorporated, giving you alternative choices that support different corporate structures.

Hershey'sFood Beverage

Hershey's

Owned by The Hershey Company

American chocolate brand known for Hershey's Milk Chocolate bars, Kisses, and various chocolate confections, owned by The Hershey Company.

chocolatemilk-chocolatecandy
Publicly Traded

Hershey's is owned by The Hershey Company, a public company, a different structure than M&M's's parent.

SmartiesFood Beverage

Smarties

Owned by Nestlé S.A.

Colorful candy-coated chocolate brand owned by Nestlé, sold in over 100 countries.

chocolateconfectionerycandy
Publicly Traded

Smarties is owned by Nestlé S.A., a public company, a different structure than M&M's's parent.

AeroFood Beverage

Aero

Owned by Nestlé S.A.

British chocolate brand known for its distinctive aerated, bubbly texture, produced and distributed by Nestle and sold primarily in the United Kingdom, Canada, and select international markets.

chocolateconfectionerysnacks
Publicly Traded

Aero is owned by Nestlé S.A., a public company, a different structure than M&M's's parent.

HelloFreshFood Beverage

HelloFresh

Owned by HelloFresh SE

German meal kit delivery company providing pre-portioned ingredients and recipes for home cooking, publicly traded on the Frankfurt Stock Exchange.

meal-kitfood-deliveryconvenience-food
Publicly Traded

HelloFresh operates independently without a large parent corporation.

MilkaFood Beverage

Milka

Owned by Mondelez International, Inc.

European milk chocolate brand owned by Mondelēz International, known for its lilac packaging and Alpine milk positioning. The best-selling chocolate tablet brand in Germany and Austria.

chocolateconfectioneryeuropean-brand
Publicly Traded

Milka is owned by Mondelez International, Inc., a public company, a different structure than M&M's's parent.

Red BullFood Beverage

Red Bull

Owned by Red Bull

Austrian energy drink brand and the world's best-selling energy drink by volume, owned by Red Bull GmbH, a privately held company controlled by the Yoovidhya family and the estate of Dietrich Mateschitz.

energy-drinkbeveragesports-marketing
Privately Owned

Red Bull operates independently without a large parent corporation.

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Last reviewed: August 1, 2025 · Reviewed by Who Brands Editorial Team