Mondelēz International to sell developed-market gum business to Perfetti Van Melle
Brand to retain market gum business across Latin America, Asia, Middle East, Africa.
Mondelēz International has announced it has entered into definitive agreements to sell its developed-market gum business in the U.S., Canada, and Europe to Perfetti Van Melle Group, a European gum and confectionery maker, for a headline purchase price of $1.350 billion or 15 times equivalent to estimated current year EBITDA.
The divestiture advances the company’s portfolio-reshaping strategy, as outlined at its Investor Day in May, enabling greater focus on growth and reinvestment in its core chocolate, biscuit, and baked snacks categories.