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
- 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.
The divestiture advances the Company’s portfolio reshaping strategy, as it continues striving to deliver 90 percent of revenue in its core categories of chocolate, biscuits and baked snacks.
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.”
Mondelēz is retaining the Portugal portion of the business until regulatory approval is granted in that jurisdiction, after which the parties have agreed the Portugal portion of the business will be sold and transferred to Perfetti Van Melle Group.
About Mondelēz International
Mondelēz International, Inc. (Nasdaq: MDLZ) empowers people to snack right in over 150 countries around the world. With 2022 net revenues of approximately $31 billion, MDLZ is leading the future of snacking with iconic global and local brands such as Oreo, Ritz, LU, Clif Bar and Tate’s Bake Shop biscuits and baked snacks, as well as Cadbury Dairy Milk, Milka and Toblerone chocolate. Mondelēz International is a proud member of the Standard and Poor’s 500, Nasdaq 100 and Dow Jones Sustainability Index. Visit www.mondelezinternational.com or follow the company on Twitter at www.twitter.com/MDLZ.
About Perfetti Van Melle
Perfetti Van Melle is a privately owned company that manufactures and distributes confectionery and chewing gum in more than 150 countries. Perfetti Van Melle is a global leader in the confectionery industry, thanks to delighting consumers around the world with its innovative, diverse and most loved products. The company boasts a diverse portfolio of iconic local and internationally recognized brands cherished by generations such as Mentos, Chupa Chups, Alpenliebe, Frisk, Smint, Fruit-tella, Golia, Brooklyn, Vivident, Happydent, Daygum, Vigorsol, Big Babol and Airheads. In 2022 Perfetti Van Melle Group reported net revenues close to €3 billion.
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|Shep Dunlap (Investors)