Mondelez to sell gum business in developed markets for $1.35 billion

The company said it will continue to operate its gum business outside the United States, Canada and Europe

Oreo maker Mondelez International Inc said on Monday it had agreed to sell its gum business, including brands such as Trident and Dentyne, in the United States, Canada and Europe to Perfetti Van Melle Group for $1.35 billion.

Perfetti Van Melle, the European gum and confectionery maker behind brands such as Mentos, Alpenliebe and Chupa Chups, will also acquire Mondelez's manufacturing facilities in Rockford, Illinois and Skarbimierz, Poland.

Mondelez put its developed markets gum unit, which also includes brands such as Bubbaloo and Bubblicious, under a strategic review after demand took a severe hit during the COVID-19 lockdowns.

The company said it will