Mars Ireland is stockpiling chocolate and pet food in case there is a no deal Brexit.

The company’s general manager Bill Heague has told The Sunday Business Post that it is investing in extra warehousing space and doubling its Irish stock.

He said the company is “working with its factory network across Europe” to make sure Ireland has “a buffer” in case the UK crashes out of the EU without a deal.

Mr Heague said he remains hopeful a deal can be found, noting “it is definitely one of those cases where you hope for the best and prepare for the worst.”

He warned however that Brexit could lead to price increases whether there is a deal or not.

“Unfortunately, whether it is in the case of tariffs,  non-tariff barriers or the increased administration of customs, we are worried about the impacts that [Brexit] can have on costs and the prices consumers will have to pay for in product,” he said.

Mars

Mars owns major brands including Galaxy, Dolmio, Uncle Ben’s, Whiskas and Pedigree.

Mr Heague’s comments come as the UK Prime Minister Theresa May urged her Tory colleagues "move beyond what divides us" and back her Brexit plan.

She is set to return to Brussels for further talks next week – with just 40 days to go until the UK is due to leave the bloc.