Mondelēz International has entered into definitive agreements to sell its developed-market gum business in the U.S., Canada, and Europe, excluding France, to Perfetti Van Melle Group, a leading European gum and confectionery maker, for $1.35 billion. The two companies have entered into exclusive arrangements for the sale of the business in France.
The transaction includes Mondelēz manufacturing facilities in Rockford, Ill., and Skarbimierz, Poland, and the Trident, Dentyne, Stimorol, Hollywood, V6, Chiclets, Bubbaloo, and Bubblicious brands, as well as the European candy brands Cachou Lajaunie, Negro, and La Vosgienne.
Mondelēz will continue to operate its gum business in Latin America, Asia, the Middle East, and Africa, and will retain ownership of all its other candy brands and products.
The sale advances Mondelēz’ strategy to accelerate growth and enable a greater focus on growth and reinvestment in its core chocolate, biscuit, and baked snacks categories. Subject to customary closing conditions, the transaction is expected to close in the fourth quarter of next year.
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“As we continue progressing our Vision 2030 focus and acceleration strategy, doubling down on our core snacking categories, we are pleased to transition our developed-market gum business to a values-led, family-owned company whose portfolio is a strategic fit, and where our brands and people can thrive,” says Dirk Van de Put, chairman and CEO, Mondelēz International.
The acquisition of Mondelēz International’s developed-market gum business complements the Perfetti Van Melle portfolio, which includes global brands such as Mentos, Chupa Chups and Alpenliebe.
“Perfetti Van Melle will be an excellent home for the management team and employees of Mondelēz’ gum business in North America and Europe,” says Egidio Perfetti, chairman of Perfetti Van Melle Group.