Mondelez International (MDLZ) said Monday that it agreed to sell its developed-market gum business in the United States, Canada and Europe to Perfetti Van Melle Group, European gum and confectionery maker, for a headline purchase price of $1.350 billion.
The sale includes manufacturing facilities in Rockford, IL and Skarbimierz, Poland and the gum brands Trident, Dentyne, Stimorol, Hollywood, V6, Chiclets, Bubbaloo and Bubblicious in the United States, Canada and Europe, as well as the European candy brands Cachou Lajaunie, Negro, and La Vosgienne.
Mondelez International will continue 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.
The transaction is expected to close in the fourth quarter of 2023. The definitive agreements cover the sale of the business in the United States, Canada and Europe excluding France. The companies have entered into exclusive arrangements for the sale of the business in France.
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