Mondelēz International plans to divest its gum and mint business in developed markets to concentrate more on cookies and candy.
In a report to investors, Mondelēz reveals that going forward, it plans to generate 90% of its revenue from cookies and chocolate. It will be looking to sell off its gum and mint brands, which include Dentyne, Trident and Halls, in First World markets while holding on to them in developing-world ones.
Cookies and chocolate made up 79% of Mondelēz’s net revenues in 2021, while gum and candy comprised 10%. Gum and mints were one of the hardest-hit categories during the pandemic, as masked consumers were less self-conscious about their breath.
“Chocolate and biscuits are attractive and historically durable categories in both developed and emerging markets, with significant headroom to increase penetration and per capita consumption,” Mondelēz said in a statement.