Mondelez completes sale of gum business to Perfetti Van Melle

Mondelez has successfully completed the sale of its gum business in Canada, the United States, and Europe to Perfetti Van Melle Group. However, it's important to note that the sale excludes Portugal. Mondelez will continue to operate the gum business in Portugal, pending regulatory clearance from the Portuguese Competition Authority, which is expected in the upcoming quarter. After receiving this clearance, the Portugal business will also be transferred to Perfetti Van Melle Group.

This divestment aligns with Mondelez's strategy to reshape its portfolio, with the goal of generating 90% of its revenue from key categories such as biscuits, baked snacks, and chocolates. Mondelez will still maintain its gum business outside of Europe, Canada, and the U.S. In China, the brand "Stride" leads the way, along with other candy products and brands.

Dirk Van de Put, Chairman and CEO of Mondelēz International, expressed his satisfaction with the transition, stating, "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." He also extended his best wishes to the talented colleagues who contributed to the success of these brands as they join the Perfetti Van Melle team.

Egidio Perfetti, Chairman of Perfetti Van Melle Group, emphasized how this acquisition aligns perfectly with their strategic goal of becoming a global leader in the gum industry, their chosen focus. He expects the acquisition to enhance their product portfolio, manufacturing capacity, market distribution, and financial results, effectively doubling their size in North America and increasing their reach in Europe, thus serving more consumers with their beloved brands. Perfetti expressed his pleasure and pride in welcoming the new people, brands, and plants that have joined their company, citing their passion for gum, strong innovative background, and family history.