Wrigley’s having hard time in mint wars
Well, the market for products that fight bad breath is fierce, and amongst those competitors are the candy manufacturers. Hershey is having a good time gaining ground in the market where Wrigley’s is leaving off. Of course we all know that candy is not amongst bad breath remedies, don’t we.
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 represents the critical first test of his plan to boost growth through acquisitions. Shareholders want proof the 42-year-old CEO knew what he was doing when he paid full price for a declining product line.