USA Today: Wm. Wrigley Jr. announced Wednesday that it has completed its acquisition of Life Savers and Altoids brands from Kraft Foods and plans to shutter some factories and lay off about 500 workers.
The $1.46 billion cash deal also gives the Chicago-based gum maker several other brands, including Creme Savers, Sugus candies and some local and regional brands in the United States, Europe, Indonesia and Thailand.
Bill Wrigley Jr., Wrigley’s chairman and chief executive, said adding the brands “represents a significant reinforcement of our position as a world-class confectionery company.”
For Kraft, the sale unloads confectionary brands that generated just 1.6% of its $31 billion in revenue last year.
Wrigley also said it would sell the Trolli gummy candies brand
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