Mondelēz International today (Dec. 19) announced agreements to sell its developed-market gum business in the U.S., Canada and Europe to Perfetti Van Melle Group, a European gum and confectionery maker, for $1.35 billion.
Mondelez said the divestiture advances the company’s portfolio reshaping strategy, enabling greater focus on growth and reinvestment in its core chocolate, biscuit and baked snacks categories.
The sale includes manufacturing facilities in Rockford, Ill., and Skarbimierz, Poland, and the gum brands Trident, Dentyne, Stimorol, Hollywood, V6, Chiclets, Bubbaloo and Bubblicious, as well as the European candy brands Cachou Lajaunie, Negro and La Vosgienne. Mondelēz will continue to operate a gum business outside the U.S., Canada and Europe, led by Stride in China, as well as all of its other candy brands and products.
“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, Mondelēz International.
The acquisition complements the Perfetti Van Melle portfolio, which includes global brands Mentos, Chupa Chups and Alpenliebe.
“Perfetti Van Melle will be an excellent home for the management team and employees of Mondelēz International’s gum business in North America and Europe,” said Egidio Perfetti, chairman of Perfetti Van Melle Group. “We have long admired the product and brand portfolio of the gum business and look forward to combining them with the Perfetti Van Melle brand family,” said Daniele Perfetti, vice chairman of Perfetti Van Melle Group.
Mondelēz International’s Vision 2030 strategy aims to generate 90% of revenue in chocolate and biscuits, including baked snacks—categories identified with significant growth opportunities for the Company —up from 59% in 2012 and 80% today.
The transaction is expected to close in fourth quarter of 2023.
