Some days ago the Brazilian gum base producer Sweet Gum (I posted about them in the past) reached an agreement to acquire the leading gum base supplier world-wide, Cafosa, from Mars. The deal is pending approval from the Authorities, so probably we will hear an official communication about this matter once it is completed.
Cafosa, which is part of Mars, was showing red figures for the last years. Negative financial results, loss of customers and poor performance might be some of the reasons (among others) that led Mars to take this move.
I look forward to see how this changes the game in the gum base sector. I worked for 12 years in Cafosa and I have seen the changes and transformation of the company from a family-owned Catalan SME (Mr Carulla founded the company within the General de Confiteria -later Joyco- Group) to being absorbed by Wrigley and later being part of Mars. Now starts a new era within an environment that has been hit by the Covid19 pandemic and with a decline of chewing gum consumption in many countries.