Hershey to Buy Nabisco Mints, Gum Business for $135 Million

Hershey Foods

(HSY) - Get Report

agreed to acquire

Nabisco Holdings'

(NA)

mints and gum businesses for $135 million.

The deal requires the completion of Nabisco's acquisition by

Philip Morris

(MO) - Get Report

.

Nabisco's mints and gum businesses, which include brands such as Ice Breakers, Breath Savers and Bubble Yum, posted 1999 sales of about $270 million. Nabisco's gum-manufacturing plant in Las Piedras, Puerto Rico, is included in the acquisition.

Shares of Hershey were recently higher by $2.25, or 4.1%, at $56.56, while shares of Nabisco gained 0.1%, or 6 cents, to $54.25 on the

New York Stock Exchange

.