Chicago-based snack food giant Mondelez International will sell its gum business, which includes brands such as Trident, Chiclets and Bubblicious, to the European gum and confectionary maker Perfetti Van Melle Group for $1.35 billion, the company said in a news release Monday.
The deal includes the sale of a manufacturing facility in Rockford, Illinois.
In a news release, Mondelez said the sale would allow it to focus on growth in its core categories of chocolate, biscuits and baked snacks. In August, the Oreo and Ritz cracker-maker closed on its purchase of Clif Bar & Company in a deal valued at $2.9 billion.
