Mondelez Divests Gum Business In US, Canada & Europe To Alpenliebe-Owner Perfetti Van Melle For $1.35B - Mondelez International (NASDAQ:MDLZ)

Mondelez International Inc MDLZ has agreed to sell its developed-market gum business in the U.S., Canada and Europe to Perfetti Van Melle Group for a headline purchase price of $1.350 billion.
Perfetti Van Melle is a European gum and confectionery maker with global brands, including Mentos, Chupa Chups, and Alpenliebe.
MDLZ expects the sale to enable its focus on growth and reinvestment in its core chocolate, biscuit and baked snacks categories.
The sale includes manufacturing facilities in Rockford, IL and Skarbimierz, Poland and the gum brands Trident, Dentyne, Stimorol, Hollywood, V6, Chiclets, Bubbaloo and Bubblicious in the U.S., Canada and Europe.
The sale also includes the European candy brands Cachou Lajaunie, Negro, and La Vosgienne.
"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 Chairman and CEO Dirk Van de Put.
The transaction is expected to close in Q4 of 2023.
Mondelez’s Vision 2030 strategy aims to generate 90% of revenue in chocolate and biscuits, including baked snacks.
Price Action: MDLZ shares are trading lower by 0.50% at $65.83 on the last check Monday.
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