July 29 (Reuters) - Candy and snacks giant Mars on
Tuesday announced plans to invest $2 billion more in its U.S.
operations through next year to bolster the company's ongoing
efforts to expand manufacturing in the country.
The Twix and MilkyWay chocolate maker has already invested
more than $6 billion in U.S. manufacturing in the last five
years and the new funding will support a $240 million facility
for Nature's Bakery in Salt Lake City, Utah.
The new facility, opening on Wednesday, will create over 230
new jobs in the region and have the capacity to produce about
one billion candy bars every year, Mars said.
"The U.S. is our biggest and most important market, and a
key engine of growth for the long term - not only through our
legacy manufacturing footprint but also through the expansion of
strategic acquisitions like Nature's Bakery, which is already
scaling quickly," said Mars CFO Claus Aagaard.
Many companies are doubling down on their U.S. production
capabilities after the Trump administration imposed sweeping
import tariffs aimed at narrowing the trade deficit and
prompting multinational firms to bring manufacturing back to
America.
About 94% of Mars products sold in the U.S. are produced
locally.
The company announced a $36 billion deal to buy Pringles
maker Kellanova ( K ) in August, and has received approval from
U.S. antitrust regulators while EU counterparts opened a
full-scale investigation last month.