Mondelez to Sell Gum Business to Perfetti in $1.35 Billion Deal

Mondelez International Inc. agreed to sell its gum business in some of its major markets to European rival Perfetti Van Melle SpA.

The deal values the business at about $1.35 billion, the companies announced Monday. The sale includes brands such as Trident, Bubblicious, Chiclets, Dentyne and some European candy. Perfetti will own the portfolio in the US, Canada and Europe, as well as manufacturing facilities in Illinois and Poland.

Mondelez will continue to operate the gum business outside of those regions, led by the Stride brand in China.

The deal would boost the North American footprint for Perfetti, which ...