Mondelēz International has completed the sale of its developed-market gum business in the U.S., Canada and Europe (excluding Portugal) to global gum and confectionery manufacturer Perfetti Van Melle Group, according to a release from Mondelēz.
Mondelēz International will retain the Portuguese portion of the business until regulatory approval is granted by Portuguese regulators, at which point the business will be sold and transferred to Perfetti as well. Mondelēz will continue to operate its gum business outside these regions, as well as its other candy brands and products.
The sale includes such U.S. gum brands as Trident, Dentyne, Stimorol, Hollywood, V6, Chiclets, Bubbaloo and Bubbalicious, as well as European gum brands and two manufacturing facilities — one in Rockford, Ill., and the other in Skarbimierz, Poland.
According to the company, the divestiture advances Mondelēz’s portfolio reshaping strategy, as it continues striving to deliver 90 percent of revenue in its core categories of chocolate, biscuits and baked snacks.