Kraft Ties Up Candy Deal with Wrigley

17 November 2004

US-based Kraft Foods has slimmed down its brands in a $1.5 billion (€1.1bn, £811m) deal with chewing gum giant Wrigley.

Kraft has sold Altoids mints and Lifesavers candies to streamline its operations and concentrate on its core cheese, crackers and cookies products [WAMN: 19-Oct-2004].

Chicago-based Wrigley beat off competition from Hershey, Mars, Cadbury Schweppes and Nestle to clinch the purchase.

For Wrigley, the new additions help the company expand beyond its traditional gum business and satisfy its appetite for acquisition.

Altoids and Lifesavers, plus two smaller products which make up the deal, generated around $500 million in sales last year.

Data sourced from Wall Street Journal Online; additional content by WARC staff