- Advances strategy to accelerate growth and focus portfolio on attractive core categories of chocolate, biscuits and baked snacks
- Retains emerging market gum business across Latin America and Asia, Middle East and Africa
CHICAGO, Oct. 02, 2023 (GLOBE NEWSWIRE) -- Mondel?z International (NASDAQ:MDLZ) today 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 Mondel?z 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. Mondel?z 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, ...