CHICAGO – Mondelez International plans to divest its developed market gum and global Halls businesses following a strategic review of its portfolio. No timeline was given for the divestments.
The company placed the developed market gum business under review in June 2021. Management said at the time that it intended to return the business to pre-pandemic performance levels and then decide the next course of action.
Brands included in the developed market gum portfolio include Dentyne, Stride, Trident and others.The announcement was made during the company’s May 10 investor day. As part of the event, management also revealed that the company plans to expand its presence in chocolate, biscuits and baked snacks by filling geographic gaps and extending into under-represented segments and price tiers.