Yahoo Finance Mondelēz International Completes Acquisition of Chipita Global S.A., High-Growth European Leader in Croissants and Baked Snacks
Represents important milestone in Company’s strategy to accelerate growth and become a global snacking leader
Enhances offering in attractive $65B global packaged baked snacks category
Enables innovation across beloved brands including Cadbury, Milka and 7Days
CHICAGO, Jan. 03, 2022 (GLOBE NEWSWIRE) -- Mondelēz International, Inc. (Nasdaq: MDLZ) today announced that it has completed the acquisition of Chipita Global S.A., a high-growth leader in the Central and Eastern European croissants and baked snacks category.
The acquisition marks an exciting milestone in the Company’s strategic plan, focused on accelerating growth in core snacking adjacencies, while continuing to expand its footprint in key markets.
Established in Greece more than 40 years ago, Chipita S.A. delivers croissants and other baked snack brands to two billion consumers in more than 50 countries. The acquisition enhances the Company’s offering in the attractive $65 billion global packaged baked snacks category and enables Mondelēz International to offer a broad baked snacks portfolio in Europe, with a significantly increased presence in fast-growing Central and Eastern European markets.
“We are delighted to formally welcome Chipita Global S.A. into Mondelēz International, bringing together our strong brands and heritage, as we continue to deliver great-tasting snacks and innovate across our brands to meet a wide range of changing consumer needs,” said Dirk Van de Put, Chairman & CEO of Mondelēz International. “Chipita’s iconic brands and significant scale across so many attractive geographies make them a strong strategic complement to our existing portfolio and future growth ambitions in Europe and beyond.”
Chipita has been at the forefront of development and growth in the croissant and baked snacks sector across multiple countries, driven by its strong innovation and manufacturing capabilities. The acquisition offers exciting opportunities for innovation bringing together iconic Mondelēz International brands such as Cadbury and Milka, with beloved Chipita croissant and baked snack brands like 7Days. A formal integration process will take effect over the next six months.
Mondelēz International will utilize Chipita ’s Central and Eastern European distribution network capabilities to enhance its own distribution in the region, while continuing to introduce its brands to new countries in the region and beyond. The Company also expects to build on Chipita Global S.A.’s differentiated capabilities with additional procurement and manufacturing expertise.
The acquisition of Chipita Global S.A. builds on Mondelēz International’s continued expansion into fast-growing snacking segments. In 2021, the Company acquired Grenade, a leading UK performance nutrition company; Gourmet Food Holdings, a leading Australian food company in the attractive premium biscuit and cracker category; and Hu, a well-being snacking company in the United States.
About Mondelēz International
Mondelēz International, Inc. (Nasdaq: MDLZ) empowers people to snack right in over 150 countries around the world. With 2020 net revenues of approximately $27 billion, MDLZ is leading the future of snacking with iconic global and local brands such as OREO, belVita and LU biscuits; Cadbury Dairy Milk, Milka and Toblerone chocolate; Sour Patch Kids candy and Trident gum. Mondelēz International is a proud member of the Standard and Poor’s 500, Nasdaq 100 and Dow Jones Sustainability Index. Visit www.mondelezinternational.com or follow the company on Twitter at www.twitter.com/MDLZ.
About Chipita S.A.
Chipita S.A. was established in Greece 40 years ago. It is one of the largest producers of salty and sweet snacks in Central and Eastern Europe, with approximately $580 million of revenue in 2020. With a leading position in the production of packaged croissant and baked snacks, the company has a portfolio of iconic brands that among others include: 7Days, Chipicao, and Fineti. A pillar to the company’s decision making has been the development and expansion of confectionary and baked snacks across many markets, driven by innovation and strong manufacturing capabilities. It has 13 production plants with presence in over 50 countries and employs more than 5,100 employees.
Forward-Looking Statements
This press release contains forward-looking statements. Words, and variations of words, such as “will,” “may,” “expect,” “plan” and similar expressions are intended to identify these forward-looking statements, including, but not limited to, statements about Mondelēz International’s strategy and plans for growth, the transaction and the expected results of the transaction, and the benefits to and future prospects for the Chipita Global S.A. business. These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond Mondelēz International’s control, which could cause Mondelēz International’s actual results to differ materially from those indicated in these forward-looking statements. Please also see Mondelēz International’s risk factors, as they may be amended from time to time, set forth in its filings with the U.S. Securities and Exchange Commission, including its most recently filed Annual Report on Form 10-K. Mondelēz International disclaims and does not undertake any obligation to update or revise any forward-looking statement in this press release, except as required by applicable law or regulation.
Contacts: | Tracey Noe (Media) | Shep Dunlap (Investors) |
