Mondelez Sell Developed Gum Business for $1.35B

Mondelez International has agreed to sell its developed-market gum business in the US, Canada, and Europe to Perfetti Van Melle Group, a leading European gum and confectionery maker for a headline purchase price of $1.35 billion.The company said it will continue to operate its gum business outside the US, Canada, and Europe, led by Stride in China, as well as all of its other candy brands and products.

Dirk Van de Put, chairman and CEO, Mondelez International said “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,” The acquisition complements Perfetti Van Melle's portfolio, which includes brands like Mentos, Chupa Chups, and Alpenliebe.

“Perfetti Van Melle will be an excellent home for the management team and employees of Mondelez International’s gum business in North America and Europe,” said Egidio Perfetti, chairman of Perfetti Van Melle Group. 

“We have long admired the product and brand portfolio of the gum business and look forward to combining them with the Perfetti Van Melle brand family,” said Daniele Perfetti, vice chairman of Perfetti Van Melle Group.