AP

Mondelez selling part of its gum business for $1.35B

Dec 18, 2022, 10:32 PM | Updated: Dec 19, 2022, 12:57 pm

Candy and snack company Mondelez International said Monday it’s selling its U.S., Canadian and European gum business to Perfetti Van Melle Group for $1.35 billion.

Chicago-based Mondelez said the deal includes its Trident, Bubblicious, Dentyne and Chiclets gum brands and the European candy brands Cachou Lajaunie and La Vosgienne. Perfetti __ a privately owned company which makes Mentos mints and Chupa Chups lollipops, among other products __ will also acquire Mondelez manufacturing facilities in Rockford, Illinois, and Skarbimierz, Poland.

The deal is expected to close in the fourth quarter of 2023.

Mondelez said it will continue to make gum in other regions, including Latin America and Asia. But the sale brings it closer to its goal of shifting more resources to its chocolate, biscuit and baked snack brands, where the company sees significant growth opportunities. Mondelez owns the Cadbury and Toblerone chocolate brands as well as Oreo and Chips Ahoy cookies, Triscuit crackers and Perfect Snacks nutrition bars.

Mondelez makes about 80% of its revenue from chocolate and biscuits today; it wants to raise that to 90% by 2030.

U.S. gum and mint sales grew 3.8% in 2021, according to the National Confectioners Association. But that growth was surpassed by chocolate sales, which rose 9.2%, and non-chocolate candy sales, which were up 14.5%.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

AP

moore redmond washington...

Associated Press

U.S. Supreme Court rules against Redmond couple challenging foreign income tax

The court ruled in the case of Charles and Kathleen Moore, of Redmond, Washington after they previously challenged a $15,000 tax bill.

17 hours ago

Image:The New York Giants' Willie Mays poses for a photo during baseball spring training in 1972. M...

Associated Press

Willie Mays, Giants’ electrifying ‘Say Hey Kid,’ dies at 93

Willie Mays, whose singular combination of talent, drive and exuberance made him one of baseball’s greatest players, has died. He was 93.

2 days ago

Image: This photo provided by the Washington Department of Ecology shows a derailed BNSF train on t...

Associated Press

Judge orders BNSF to pay Washington tribe nearly $400M for trespassing with oil trains

BNSF Railway must pay the sum to a Native American tribe in Washington after it ran 100-car trains with crude oil on the tribe's reservation.

3 days ago

Photo: In this photo provided by Tieanna Joseph Cade, an amusement park ride is shown stuck with 30...

Associated Press

Crews rescue 28 people trapped upside down high on Oregon amusement park ride

Emergency crews in Oregon rescued 28 people after they were stuck dangling upside down high on a ride at a century-old amusement park.

3 days ago

juneteenth shooting texas...

Associated Press

2 killed and 6 wounded in shooting during a Juneteenth celebration in a Texas park

A shooting in a Texas park left two people dead and six wounded, including two children, on Saturday, authorities said.

5 days ago

Photo: Israeli soldiers drive a tank near the Israeli-Gaza border, in southern Israel, Wednesday, J...

Jack Jeffery, The Associated Press

8 Israeli soldiers killed in southern Gaza in deadliest attack on Israeli forces in months

An explosion in Gaza killed eight Israeli soldiers, the military said Saturday, making it the deadliest attack on Israeli forces in months.

5 days ago

Mondelez selling part of its gum business for $1.35B