Snack and confectionery multinational Mondelez International has announced that has agreed to sell its gum business in the USA, Canada and Europe to Perfetti Van Melle Group for $1.350 billion.
The sale is part of the strategy of Mondelez International to accelerate growth and focus portfolio on chocolate, biscuits, and baked snacks categories.
The acquisition includes the gum brands Trident, Dentyne, Stimorol, Hollywood, V6, Chiclets, Bubbaloo and Bubblicious in the United States, Canada and Europe, the candy brands Cachou Lajaunie, Negro, and La Vosgienne in Europe and factories in Poland.
“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,” said Dirk Van de Put, chairman and CEO, Mondelez International.
The transaction is expected to close in Q4 of 2023.
Source: Mondelez International