In November 2004, Kraft Foods sold its confectionery business to Wrigley for $1.85 billion cash, which consisted primarily of the following key candy brands: Lifesavers, Altoids, and Crème Savers.
This deal is referred to as a:

Question

Quizplus · Accepted Answer

This deal is referred to as a sell-off, which occurs when a company sells a portion of its assets or a subsidiary to another company. In this case, Kraft Foods sold its confectionery business, including key brands, to Wrigley for cash.

In November 2004, Kraft Foods Sold Its Confectionery Business to Wrigley