Mondelez selling part of its gum business for $1.35B

By DEE-ANN DURBIN
AP Business Writer

Mondelez International said Monday it’s selling its U.S., Canadian and European gum business to Perfetti Van Melle Group for $1.35 billion. Chicago-based Mondelez said the deal includes its Trident, Bubblicious, Dentyne and Chiclets gum brands as well as manufacturing facilities in Illinois and Poland. Perfetti is a privately owned company which makes Mentos mints , among other products. The deal is expected to close in the fourth quarter of 2023. Mondelez says it will continue making gum in other regions, including Asia. But the deal will let it focus more on its other businesses, including chocolates and crackers.