Mondelēz International has completed the sale of its developed-market gum business in the United States, Canada and Europe, excluding Portugal, to Perfetti Van Melle Group.
The deal, valued at $1.35 billion (€1.3 billion), was first announced in December of last year.
"We expect to further bolster our product portfolio, manufacturing capacity, market distribution and financial results, effectively doubling our size in North America and increasing our reach in Europe, serving more consumers with our well-loved brands."
The transaction includes manufacturing facilities in Rockford, Illinois, and Skarbimierz, Poland, and the gum brands Trident, Dentyne, Stimorol, Hollywood, V6, Chiclets, Bubbaloo and Bubbalicious in the United States, Canada and Europe as well as European candy brands Cachou Lajaunie and La Vosgienne.
“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,” commented Dirk Van de Put, chairman and CEO of Mondelēz International.