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Posted on 31 March 2011 | 3,789 views

Wrigley Stock Price After the October 1929 Stock Crash

The William Wrigley Jr. Company is a company headquartered in the Wrigley Building in Near North Side, Chicago, Illinois. The company was founded on April 1, 1891 originally selling products such as soap and baking powder.

In 1892, William Wrigley, Jr., the company’s founder, began packaging chewing gum with each can of baking powder. The chewing gum eventually became more popular than the baking powder itself and Wrigley’s reoriented the company to produce the popular chewing gum.

Right before the Black Monday and Black Tuesday stock market crash in October of 1929, Wrigley stock had been trading at $71.50 per share on the New York Stock Exchange. Wrigley stock closed on December 16, 1931 at $50.50 per share and by March 3, 1933 it was trading at $35.125 per share.

On April 28, 2008, it was announced that Mars, Inc would acquire Wrigley for approximately $23 billion. Financing for the transaction was provided by Berkshire Hathaway, Goldman Sachs and JPMorgan. Berkshire Hathaway holds a minority equity investment in the Wrigley subsidiary.

The corporate headquarters, the Wrigley Building is a well-known landmark on the Magnificent Mile in Chicago.

Resources:

The Pittsburgh Press
Spokane Daily Chronicle
Wrigley.com

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