Mondelez International Inc said it plans to sell its chewing gum business, including brands Trident and Dentyne, in developed markets, as well as its Halls cough drop brand, as the company focuses on chocolates and snacks.
The Cadbury maker, which will keep its gum brands in emerging markets, said it was reshaping its product line with the aim of generating 90% of revenue from chocolates and biscuits.
Mondelez, which reported sales of $7.76 billion last quarter, started a review of its gum business a year ago after demand for the units’ brands took a severe hit during COVID-19 lockdowns.
Gum sales have since recovered as people start stepping out and return to their routines following the easing of pandemic restrictions.
Source: Reuters.com