Mondelēz International Completes Sale Of Gum Business In Developed Markets

Mondelēz will retain the Portuguese portion of the business until it receives regulatory clearance from the country’s competition authority, the company noted.

The divestiture is part of the company’s strategy to reshape its product portfolio as it seeks to focus on core categories comprising chocolate, biscuits and baked snacks.

The deal, valued at $1.35 billion (€1.3 billion), was first announced in December of last year.

Egidio Perfetti, chair of Perfetti Van Melle Group said, “This acquisition aligns perfectly with our strategic goal of becoming a global leader in gum, our chosen focus. 

“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.”

Mondelēz added that it will continue to operate its gum business outside the United States, Canada and Europe, led by Stride in China.

ESM