Mondelez Sells a Portion of Its Gum Business For $1.35 Billion

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.

Read the source article at apnews.com