Mondelēz International announced it has completed the sale of its developed-market gum business in the United States, Canada and Europe, excluding Portugal, to Perfetti Van Melle Group, a leading global gum and confectionery maker. The Portugal portion of the business is being retained by Mondelēz pending regulatory clearance from the Portuguese Competition Authority, which the parties expect will be forthcoming in the near term.
The divestiture advances the Company’s portfolio reshaping strategy, as it continues striving to deliver 90 percent of revenue in its core categories of chocolate, biscuits and baked snacks.
The sale includes manufacturing facilities in Rockford, Illinois, and Skarbimierz, Poland, and the gum brands Trident, Dentyne, Stimorol, Hollywood, V6, Chiclets, Bubbaloo and Bubbalicious in the United States, Canada and Europe, as well as European candy brands including Cachou Lajaunie and La Vosgienne. Mondelēz continues to operate its gum business outside the United States, Canada and Europe, led by Stride in China, as well as all of its other candy brands and products.
“As we continue accelerating growth to become the global snacking leader in chocolate, biscuits and baked snacks, we are pleased to transition our developed market gum business to a global, privately owned, values-driven company with a strong and proven track record of brand investment and innovation,” said Dirk Van de Put, Chairman and CEO, Mondelēz International. “We are incredibly proud of the talented colleagues who made these brands so successful, and we wish them all the best as they join the Perfetti Van Melle team.”
“This acquisition aligns perfectly with our strategic goal of becoming a global leader in gum, our chosen focus,” said Egidio Perfetti, Chairman of Perfetti Van Melle Group. “We expect to further bolster our product portfolio, manufacturing capacity, market distribution and financial results, effectively doubling our size in North America and increasing our reach in Europe, serving more consumers with our well-loved brands. With a passion for gum, our strong innovative background and family history, we are very pleased and proud to welcome the new people, brands and plants that have joined us today.”
Mondelēz is retaining the Portugal portion of the business until regulatory approval is granted in that jurisdiction, after which the parties have agreed the Portugal portion of the business will be sold and transferred to Perfetti Van Melle Group.
