Mondelēz International Completes Sale Of Developed Market Gum Business to Perfetti Van Melle
Advances strategy to accelerate growth and focus portfolio on attractive core categories of chocolate, biscuits and baked snacks
- 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) -- Mondelēz 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 Mondelēz pending regulatory clearance from the Portuguese Competition Authority, which the parties expect will be forthcoming in the near term.
- 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.
- “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.