Milky Way is wholly owned by Mars, Incorporated, a private American family-owned company headquartered in McLean, Virginia. Mars is not publicly traded and is owned by the Mars family. The company generates approximately $65 billion in annual revenue following its December 2025 acquisition of Kellanova. There is no stock ticker for Mars, as it is privately held.

Is Milky Way the same as Mars Bar?

The US Milky Way bar and the international Mars Bar are the same product: nougat topped with caramel and covered in milk chocolate. In the United States, it is sold as Milky Way. Outside the US, it is sold as Mars Bar. The European Milky Way is a different product, containing only aerated nougat without caramel, equivalent to the American 3 Musketeers bar.

When was Milky Way invented?

Milky Way was introduced in 1923 by Frank C. Mars in Minneapolis, Minnesota. The trademark was registered on March 10, 1925, with a claimed first-use date of 1922. The concept was inspired by a popular malted milk drink of the era, not the astronomical galaxy. Milky Way celebrated its 100th anniversary in 2024.

Is Mars a public company?

No, Mars, Incorporated is a privately held company owned by the Mars family. It is one of the largest privately held businesses in the United States. The company has been led by non-family CEOs since 2001, but the Mars family remains the sole shareholder group. Investors cannot purchase shares in Mars or its individual brands.

What happened to Milky Way Simply Caramel?

Mars discontinued the Milky Way Simply Caramel bar in the summer of 2023. The product was introduced in 2010 as a caramel-only version without nougat. Mars discontinued it due to insufficient sales volume. The standard Milky Way bar with nougat and caramel remains in production.

Food & Beverage

Who Owns Milky Way?

Milky Way is owned by Mars, Incorporated, a private American family-owned confectionery and food company headquartered in McLean, Virginia. Milky Way was introduced in 1923 by Frank C. Mars and is one of the oldest candy bars still in production in the United States. Mars is a privately held company with approximately $65 billion in annual revenue following its December 2025 acquisition of Kellanova. The US Milky Way bar contains nougat, caramel, and milk chocolate, while the European Milky Way is a lighter nougat-only bar.

Parent Company

Mars, Incorporated

Founded

1923

Status

Private

Headquarters

McLean, Virginia, USA (Mars)

Milky Way Timeline

1911

Mars, Incorporated

Parent company established in McLean, Virginia, USA

Company Founded

1923

Milky Way

Founded by Frank C. Mars

Founded

mid rangemass marketGlobalall-consumersOfficial Website

Who Owns Milky Way?

Parent Company: Mars, Incorporated
Ownership Type: Wholly owned
Company Type: Privately Held

Brand	Parent Company	Ownership Type
Milky Way	Mars, Incorporated	Wholly owned

Where to Buy

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Milky Way on Amazon

History of Milky Way

Founded: 1923
Founders: Frank C. Mars

Milky Way was introduced in 1923 by Frank C. Mars in Minneapolis, Minnesota. The concept came from a conversation between Frank Mars and his son Forrest about creating a "malted milk in a candy bar." The name derived from a popular malted milk drink of the era, not the astronomical galaxy. The Milky Way trademark was registered on March 10, 1925, claiming a first-use date of 1922.

The bar combined chocolate nougat, caramel, and milk chocolate in a format that was novel for the era. It was accessible to working-class consumers as an affordable sweet treat. In 1924, the Milky Way bar was introduced nationally, with sales totaling $800,000 that year. The chocolate coating was originally supplied by Hershey's. Milky Way's success led Mars to hire a full-time sales staff and relocate to a full-production plant in Chicago in 1929, moving approximately 200 employees.

The US Milky Way and the European Milky Way are different products, a distinction that causes frequent confusion. The US Milky Way bar contains nougat topped with caramel and covered in milk chocolate. This is equivalent to the Mars Bar sold outside the United States. The European Milky Way, introduced in 1935 by Forrest Mars Sr. in England, contains only aerated nougat in a thin chocolate coating with no caramel. This is equivalent to the 3 Musketeers bar sold in the United States. The Mars Bar, using the same recipe as the US Milky Way, is sold separately in European markets under the Mars name.

Milky Way celebrated its 100th anniversary in 2024. Mars marked the occasion with a promotional campaign featuring Rainbolt, a social media personality known for the geography game GeoGuessr. The brand's product range has expanded over the decades to include Milky Way Midnight (dark chocolate coating), Milky Way Cookie Dough bars, and Milky Way ice cream bars. The Milky Way Simply Caramel bar, introduced in 2010 as a caramel-only version without nougat, was discontinued in the summer of 2023. In 2024, Mars collaborated with Jel Sert to market Milky Way-flavored pudding and pie mix.

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 Milky Way Made / Based?

Headquarters: McLean, Virginia, USA (Mars)
Manufacturing / Operations: United States, United Kingdom, France, Germany

Milky Way Categories & Tags

Chocolate Candy Bar Nougat Caramel Mars American Brand

Milky Way Sustainability & Ethics

Milky Way participates in Mars, Incorporated's sustainability programs. Mars has committed to achieving net zero greenhouse gas emissions by 2050, with an interim target of reducing emissions 50% by 2030 from a 2015 baseline. The company's cocoa sourcing is managed through the Cocoa Action strategy, a collaborative industry initiative led by the World Cocoa Foundation.

Mars is not a Certified B Corporation. The company does not hold Leaping Bunny certification for any of its confectionery brands, as Mars conducts animal testing for some of its pet care products, which disqualifies the parent company from cruelty-free certification. Mars Wrigley has committed to sourcing 100% certified cocoa by 2025 and reports progress through its annual sustainability report.

Mars has committed to making all plastic packaging recyclable, reusable, or compostable by 2025. Milky Way wrappers are made from aluminum foil and paper, which are recyclable in many markets. The company has piloted paper-based packaging for some confectionery products in European markets.

Awards & Recognition

Guinness World Records: Mars, Incorporated holds records for various confectionery achievements, though Milky Way specifically is not individually listed.
Brand Recognition: Milky Way is one of the longest continuously produced candy bars in the United States, with over 100 years of uninterrupted production since 1923 (or 1924 for national distribution).
Mars Corporate Recognition: Mars, Incorporated has been recognized by Forbes as one of America's Best Employers and by the Ethisphere Institute as one of the World's Most Ethical Companies in multiple years.

Milky Way Recalls & Controversies

Milky Way Simply Caramel Discontinuation (2023): Mars discontinued the Milky Way Simply Caramel bar in the summer of 2023. The product, introduced in 2010 as a caramel-only version without nougat, was discontinued due to insufficient sales volume. Some consumers expressed disappointment on social media, but the discontinuation did not generate significant controversy.

Cocoa Supply Chain and Child Labor: Mars, Incorporated faces ongoing scrutiny over child labor in its West African cocoa supply chain. The company is a participant in the Cocoa Action initiative and has committed to sourcing 100% certified cocoa by 2025. Third-party assessments by the University of Chicago's NORC program found that child labor remains prevalent in cocoa farming communities across West Africa. Mars has acknowledged the challenge and invested in community programs, but the issue is not fully resolved.

Plastic Packaging and Environmental Impact: Mars has faced criticism from environmental groups regarding its use of single-use plastic packaging across its confectionery portfolio. The company has committed to making all packaging recyclable, reusable, or compostable by 2025 and has piloted alternative packaging materials. As of 2025, Mars reports progress but has not fully achieved this target across all products and markets.

Milky Way Ownership: Pros & Cons

Advantages

+Backed by Mars, Incorporated, a $65 billion private company with deep financial resources and no public market pressure for short-term results
+100-plus years of continuous production gives Milky Way strong brand recognition and retail shelf stability in the US market
+Mars's Kellanova acquisition in December 2025 expands the company's snacking infrastructure and distribution capabilities
+Private ownership allows Mars to invest in long-term sustainability initiatives without quarterly earnings pressure

Considerations

-Mars is privately held, so investors cannot purchase shares in the company or its individual brands
-Milky Way is not the top-selling brand in the Mars portfolio, receiving less marketing investment than Snickers and M&M's
-The US versus European Milky Way naming confusion creates consumer misunderstanding and limits global brand consistency
-Child labor in West African cocoa supply chains remains an unresolved industry-wide issue despite Mars's Cocoa Action commitments

Frequently Asked Questions About Milky Way

Sources & Further Reading

Competitors to Milky Way

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

Brand	Parent Company	Country	Founded	Market Position	Primary Market	Gender Target
SnickersSister Brand	Mars Inc	USA	1930	Mass market	Global	Unisex
TwixSister Brand	Mars Inc	USA (Mars)	1967	Global top-5-candy-bar	Global	All-ages
Butterfinger	Ferrero	USA	1923	Mass market	United states	All Genders
M&M'sSister Brand	Mars Inc	USA	1941	Mass market	Global	All-ages
Baby Ruth	Ferrero	Italy	1921	Mass market	United states	All-ages
Ghirardelli	Lindt Spruengli	USA	1852	Us premium-chocolate-leader	United states	All-consumers