Mondelēz declines to comment on Terry’s sale rumors
Mondelēz International has refused to comment on speculation it has appointed an investment bank to offload its UK brand Terry’s Chocolate Orange.
Sky News reports the Cadbury owner has hired Lazard to sell the Terry's Chocolate Orange and Terry's All Gold among other confectionery products in its portfolio.
It cites ‘people familiar with the process’ that say Mondēlez has earmarked brands mainly in France and assets in the Netherlands and Spain for sale.
A Mondelēz spokesperson told ConfectioneryNews: “As a matter of practice, we don’t comment on market rumors.”
Terry’s Chocolate Orange was launched in the UK by Terry’s of York in 1932. Terry’s was acquired in 2003 by Kraft Foods, Mondelēz’s predecessor company before a 2012 spin-off. Kraft shifted production from York in the UK to Poland soon after the acquisition.
