Global Processing

Wrigley buys confectionary businesses for $272 million

January 9, 2004
Dow Jones Business News reports that Wm. Wrigley Jr. Co., has agreed to acquire certain confectionary businesses of Joyco Group for $272 million from Agrolimen, a privately-held Spanish food conglomerate. In a press release Thursday, Wm. Wrigley said the transaction, which is expected to add to earnings by 2005, includes such brands as Boomer bubble gum, Pim Pom lollipops and Solano candy. Wm. Wrigley, a chewing-gum maker, will purchase Joyco''s operations in China, France, Italy, India, Poland and Spain, as well as chewing and bubble gum base business Cafosa. However, the transaction doesn''t encompass Joyco''s operations in the Americas or any joint ventures.