WRIGLEY MERGES JOYCO INDIA OPERATIONS WITH SUBSIDIARY

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WRIGLEY, the world’s largest chewing gum maker, has merged the operations of Joyco India with its wholly-owned arm in the country. The $4.7 billion US-based Wrigley had in early 2004 announced the global acquisition of certain confectionery businesses of Joyco Group from privately-held Spanish food conglomerate Agrolimen. The deal had brought key brands such as Boomer bubble gum, Pim Pom lollipop and Solano candy under Wrigley’s portfolio.

One of the major highlights of the deal was Wrigley’s acquisition of the sales and production operations in China, India and Spain, apart from smaller operations in France, Italy and Poland, as well as Cafosa, Joyco’s gum base business. As per the disclosures made by Wrigley, the deal brought it the leadership position in the bubble gum category in India, China and Spain. In addition, it also brought the number one position for candy lollipops in India and China.

As a part of the merger, the operations of Joyco India has been transferred to Wrigley India. In addition, the government approvals which were granted to Joyco India has now been vested in Wrigley India.

The common activity of the two companies includes manufacturing of chewing gum and other confectionery products.

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