Advances strategy to accelerate growth and focus portfolio on attractive chocolate, biscuits and baked snacks categories
Mondelēz International announced it has entered into definitive agreements to sell its developed-market gum business in the United States, Canada and Europe to Perfetti Van Melle Group, a leading European gum and confectionery maker for a headline purchase price of $1.350 billion or 15 times equivalent to estimated current year EBITDA.
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.
Mondelēz 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 acquisition of Mondelēz International’s developed market gum business complements the Perfetti Van Melle portfolio—including iconic global brands such as Mentos, Chupa Chups and Alpenliebe.
Mondelēz International’s Vision 2030 strategy aims to generate 90% of revenue in chocolate and biscuits, including baked snacks, categories identified with significant growth opportunities for the company, up from 59% in 2012 and 80%
“Perfetti Van Melle will be an excellent home for the management team and employees of Mondelēz International’s gum business in North America and Europe,” said Egidio Perfetti, Chairman of Perfetti Van Melle Group. “We have long admired the product and brand portfolio of the gum business
and look forward to combining them with the Perfetti Van Melle brand family,” said Daniele Perfetti, Vice Chairman of Perfetti Van Melle Group.
