Mondelēz completes sale of its gum business to Perfetti Van Melle
The Perfetti van Melle stand at this year's Sweets & Snacks Expo in Chicago. Pic: Neill Barston
Mondelēz International has confirmed completion of selling its developed-market gum business in the US, Canada and Europe, excluding Portugal, to Perfetti Van Melle Group, though the value of the deal has not been revealed, writes Neill Barston.
As the American-headquartered firm explained, the divestiture move comes as its seeks to reshape its portfolio, of which 90 percent is made up of product categories focused within chocolate, biscuits and baked snacks segments.
Its Portuguese portion of the business is being retained by Mondelēz pending regulatory clearance from the Portuguese Competition Authority, which the parties expect will be forthcoming in the near term.
Notably, as the company added, 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. Mondelēz 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, we are pleased to transition our developed market gum business to a global, privately owned, values-driven company with a strong and proven track record of brand investment and innovation,” said Dirk Van de Put, Chairman and CEO, Mondelēz International. “We are incredibly proud of the talented colleagues who made these brands so successful, and we wish them all the best as they join the Perfetti Van Melle team.”
“This acquisition aligns perfectly with our strategic goal of becoming a global leader in gum, our chosen focus,” said Egidio Perfetti, Chairman of Perfetti Van Melle Group. “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. With a passion for gum, our strong innovative background and family history, we are very pleased and proud to welcome the new people, brands and plants that have joined us today.”