Food Industry
Industry: Email Alert RSS FeedWrigley buys Altoids, LifeSavers for $1.48B.(NEWS)
Candy Business, November, 2004
CHICAGO, IL -- Wm. Wrigley Jr. Co. has purchased Kraft Foods Inc.'s Altoids breath mints and LifeSavers candy brands for $1.48 billion. More than 700 Kraft employees are expected to transfer to Wrigley toward the middle of 2005, when the deal is expected to close following regulatory approval.
Also included in the transaction are CreamSavers, U.S. Trolli items and Europe's Sugus mark. The brands' combined annual sales are said to be $500 million.
The sale includes manufacturing facilities in Creston, IA; Chattanooga, TN; Brasov, Romania; and Bridgend, UK. Also included in the deal are inventories and equipment in Mount Royal, Quebec, and Cobourg, Ontario.
Wrigley President, CEO and Chairman William Wrigley, Jr. says: "With our confectionery...
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