Mondelez loses taste for gum, cough drops in portfolio restructure
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MondelÄz International (NASDAQ:MDLZ) is ditching Dentyne, Bubblicious, Stride, Halls, and Trident in favor of sweeter snacks.

The company indicated on Tuesday that it plans to focus on baked goods, chocolate, and biscuits moving forward, projecting 90% of revenue to come from these categories moving forward.

âMondelÄz International (MDLZ) will drive value through organic growth and targeted acquisitions that expand its presence in chocolate, biscuits and baked snacks by filling geographic gaps and extending into under-represented segments and price tiers,â a company statement read. âThe eight acquisitions MondelÄz International has completed or announced since 2018 add $2 billion in annual revenue, and have had an average growth rate in the high single digits.â

The divestiture of gum and cough drop products comes after an almost year-long strategic review of the total business wherein gum quickly came into the crosshairs. The category had been a casualty of pandemic-driven snacking trends whereby less time spent outdoors or on the go diminished demand for gum. 

No potential buyers of the businesses were named.
Read more on the overall sales outlook for the company.