Mondelēz International Completes Acquisition of Give & Go
April 01 2020 - 3:05PM
Mondelēz International, Inc. (NASDAQ:MDLZ) today announced it has
completed its previously announced agreement to acquire a
significant majority interest in Give & Go, a North American
leader in fully-finished sweet baked goods and owners of the famous
two-bite® brand of brownies and the
Create-A-Treat® brand, known for cookie and gingerbread house
decorating kits.
“As we continue to establish foundations in fast-growing
snacking adjacencies, this is an important acquisition for our
company that supports our ambition to lead the future of snacking,”
said Glen Walter, Executive Vice President and President, North
America for Mondelēz International. “We look forward to working
with the Give & Go management team as they build on their
leading position in the large and fast-growing in-store bakery
channel.”
“This is a unique opportunity for Give & Go to join the
Mondelēz International family and benefit from their capabilities
to accelerate innovation, consumer engagement and strategic retail
partnerships. We had a very successful partnership with THL and
thank them for their support over the last three-and-a-half years,”
said Joel Flatt, President and CEO, Give & Go.
As with other recent acquisitions including Perfect Snacks and
Tate’s Bake Shop, Mondelēz International will operate Give
& Go separately in order to nurture its innovative and
entrepreneurial spirit. Give & Go will benefit from access to
Mondelēz International’s consumer and channel insights,
procurement, marketing and sales resources to expand the reach of
its famous brands to more consumers. Give & Go’s senior
leadership team will retain a minority interest in the company and
continue to run the business from their existing headquarters.
About Mondelēz InternationalMondelēz
International, Inc. (NASDAQ: MDLZ) empowers people to snack right
in over 150 countries around the world. With 2019 net revenues of
approximately $26 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 Give & GoGive & Go Prepared Foods
Corp is the leader in mini treats within the in-store bakery of
retailers across North America. Give & Go produces
fully-finished, sweet baked goods for every key season and across
four key consumer consumption occasions: Celebration Solutions,
Breakfast Solutions, Everyday Treats and Better For You Snacking.
Give & Go markets our solutions under our proprietary brands:
two-bite®, Create-A-Treat®, Mason St. Bakehouse®, and The Worthy
Crumb Pastry Co.®. The Company strives to remain at the forefront
of innovation, both in product development and retailer solutions,
based on consumer research and a deep understanding of our retail
partners’ needs. Learn more at www.giveandgo.com and follow us on
LinkedIn.
Forward-Looking Statements This press release
contains forward-looking statements. Words, and variations of
words, such as “will,” “expect” and similar expressions are
intended to identify these forward-looking statements, including,
but not limited to, statements about the expected results of the
transaction and the future prospects for the Give & Go
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 SEC, 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: |
Tom
Armitage |
|
(847) 943-5678 |
|
news@mdlz.com |
Mondelez (NASDAQ:MDLZ)
Historical Stock Chart
From Apr 2024 to May 2024
Mondelez (NASDAQ:MDLZ)
Historical Stock Chart
From May 2023 to May 2024