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Mars has successfully acquired Wrigley Jr. Company, the chewing gum concern for a sum of $23 billion. This was told by Mars, makers of M&M in a hand out issued today. Wrigley is a world leader in gum and confections with $5.4 billion in sales.

The financier of Mars-Wrigley deal was none other than the famous and well known personality Warren E. Buffet.

Mr. Buffett’s Berkshire Hathaway is helping finance the transaction, Mars said Monday in a statement. Mr. Buffett has a history with iconic food and beverage businesses. He was an early investor in Coca-Cola and is already a candy owner in Sees Candies.According to the agreement, Wrigley will become a separate, stand-alone subsidiary of Mars. Shareholders of Wrigley will receive $80 in cash for each share of stock, a premium of 28.1 percent premium over Friday’s closing price of $62.45. The deal has been approved by the boards of both companies.

The transaction would create a confectionery giant and could pressure rivals into forming mergers.

Shareholders of Wrigley will receive $80 in cash for each share of stock, a premium of 28.1 percent premium over Friday’s closing price of $62.45. The deal has been approved by the boards of both companies.

In a statement, Wrigley said Monday that Berkshire Hathaway would buy a stake worth $2.1 billion or about 10 percent. Shares in Wrigley were up about 20 percent on Monday.

The strong cultural heritage of two legendary American companies with a shared commitment to innovation, quality and best-in-class global brands provides a great basis for this combination. We are looking forward to continuing on our path of growth by jointly developing those values even further.

Paul S. Michaels, global president of Mars, said.

Among Wrigley’s brands are Extra, Orbit and Eclipse gums as well as LifeSavers and Altoids. Mars has M&M’s, Snickers, Starburst, Skittles and Twix. Mars also makes Uncle Ben’s rice products and pet food under the Pedigree brand.

Mars is a tightly controlled, privately held company, one of the last in the confectionery business and one of the largest family controlled firms in the nation. It is controlled by the Mars family of northern Virginia. Forrest Mars Sr. created the recipe, and the first M&M’s were sold in 1941.