US chewing gum maker Wm Wrigley Jr Co has announced that it has closed its €215m (US$264.7m) acquisition of certain confectionery businesses of the Joyco Group from Agrolimen, a privately-held Spanish conglomerate.
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As part of the deal, Wrigley has acquired brands including Boomer bubble gum, Pim Pom lollipops and Solano sugar confectionery. Wrigley has also gained sales and production operations in China, India and Spain, smaller commercial operations in France, Italy and Poland, as well as Cafosa, Joyco’s gum base business.
Wrigley said the acquisition, including one-time charges, is expected to have a slight negative impact of less than 5 cents per share on company earnings in the current year. It is expected to contribute positively to Wrigley’s profitability in 2005.
