Mondelēz International has sold its gum business in Canada, the US, and Europe to Perfetti Van Melle for $1.35 billion, or 15 times equivalent to the estimated current year EBITDA.
The beverage and snack food company will retain its emerging market gum business across Latin America, Asia, the Middle East, and Africa.
The sale aims to accelerate growth and reinvestment in Mondelēz's core biscuit, chocolate, and baked snacks categories, where it plans to generate 90 percent of revenue.
According to Dirk Van de Put, chairman and CEO of Mondelēz, as they, double on their core snacking categories, they would transition their developed market gum business to a values-led, family-owned company.
The sale covers manufacturing facilities in Rockford, Illinois, and Skarbimierz, Poland, and gum brands Trident, Dentyne, Stimorol, Hollywood, V6, Chiclets, Bubbaloo, and Bubblicious in the US, Canada, and Europe.
It also includes European confectionery brands Cachou Lajaunie, Negro, and La Vosgienne.


Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns
Why a ‘rip-off’ degree might be worth the money after all – research study
White House Seeks $87.6 Billion Emergency Funding for Iran War, Farmers, and Ebola Response
Columbia Student Mahmoud Khalil Fights Arrest as Deportation Case Moves to New Jersey
Cerebras Revenue Forecast Tops Expectations, but Margin Concerns Weigh on Stock
BOJ Hawk Signals Faster Interest Rate Hikes Amid Inflation Risks
Trip.com Shares Tumble After Q1 Profit Drops and Weak Revenue Growth Outlook
The pandemic is still disrupting young people’s careers
Trump Orders DOJ Investigation Into Exxon, Chevron Over High Gas Prices
Office design isn’t keeping up with post-COVID work styles - here’s what workers really want
Alibaba Shares Fall After Anthropic Alleges Massive AI Model Distillation Campaign
Why financial hardship is more likely if you’re disabled or sick
Micron Stock Surges on Strong AI Demand, Record Revenue, and Bullish Q4 Forecast
Locked up then locked out: how NZ’s bank rules make life for ex-prisoners even harder
Australian Household Spending Rebounds Strongly in May as Travel and Dining Drive Consumer Growth 



