Mondelēz International to Sell Developed Market Gum Business to Perfetti Van Melle
The divestiture advances the company’s portfolio reshaping strategy, enabling greater focus on growth and reinvestment in its core chocolate, biscuit 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 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.