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WRIGLEY'S NEW MINTS: CURIOUSLY WEAK; Young CEO's big bet on Altoids looks riskier as Hershey steals sales in the checkout aisle.(News)
Crain's Chicago Business, January, 2006
Byline: JULIE JARGON William Wrigley Jr. is in a sticky spot: As he expands beyond gum with his 115-year-old company's biggest acquisition ever, his new mint business is losing ground fast to rival Hershey Co. Six months after paying $1.46 billion to buy Altoids and Life Savers from Kraft Foods Inc., the CEO of Wm.
Wrigley Jr. Co. has yet to revive the two flagging brands. It's a tall order at a time when Hershey-a company Mr. Wrigley tried to buy in 2002-is rapidly gaining in the war on bad breath with the hot-selling Ice Breakers mints. Mints are becoming more important to Wrigley as gum sales slow. Wrigley declared 2004 "the year of the mint'' in a memo to employees, and later that year agreed to buy Altoids in Mr. Wrigley's first major deal. It now...
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