Mars Inc: The Secretive Titan Behind Your Favorite Treats

Mars Inc, managed by the second-richest U.S. family, operates secretly in McLean, Virginia, producing M&M's and Pedigree. The company recently acquired snack-maker Kellanova for $36 billion, a part of its significant expansion strategy spearheaded by Valerie Mars. The acquisition marks a major milestone in Mars' history of prolific dealmaking.

In McLean, Virginia, residents joke that the town's most covertly-run organization isn't the CIA but Mars Inc. The company, helmed by the nation's second-richest family, produces M&M's and Pedigree pet food from an unmarked building. Forbes values the Mars family fortune at $117 billion, placing them just behind the Waltons of Walmart fame.

Mars Inc has chosen to remain privately held, allowing it to make long-term decisions without the scrutiny of public investors. This structure also enables them to take on risks, such as their recent $36 billion acquisition of Kellanova, a major snack and cereal manufacturer.

Key to this expansion has been Valerie Mars, great-granddaughter of founder Franklin Mars. Under her leadership, Mars' annual sales have surged from $10 billion to over $50 billion. The Kellanova deal, culminating in a history of bold acquisitions, positions Mars as a dominant player in the snack and cereal industry.

(With inputs from agencies.)