Hershey to Buy Nabisco Mints, Gum Business for $135 Million
Hershey Foods
(HSY) - Get Hershey Company Report
agreed to acquire
Nabisco Holdings'
(NA)
mints and gum businesses for $135 million.
The deal requires the completion of Nabisco's acquisition by
TheStreet Recommends
Philip Morris
(MO) - Get Altria Group Inc 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
.
