Maker of Snickers and M&Ms is raising prices to offset higher costs

Maker of Snickers and M&Ms is raising prices to offset higher costs THE ASSOCIATED PRESS HARRISBURG, Pa. - The maker of Snickers bars and M&Ms candies said it is raising wholesale prices on various items to offset the higher costs of raw materials, packaging and energy, the second major candy company in the past week to announce such a move. The statement issued this week by Mars follows a similar announcement by its larger rival, The Hershey Co., which cited the spiralling costs of everything from cocoa and peanuts to fuel and utilities. The privately held Mars did not say which products will go up in price, or by how much. But it said the majority of the price increases will take effect Oct. 17, while several other changes will be introduced through next March. A spokeswoman for Nestle USA Inc. did not return calls... [read full story]