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- Represents an important step in the company’s strategy to accelerate its growth and become a world leader in snacking
- Improves supply in attractive global $ 65 billion packaged cooked snacks category
- Enables innovation in beloved brands including Cadbury, Milka and 7Days
CHICAGO, January 03, 2022 (GLOBE NEWSWIRE) – MondelÄ“z International, Inc. (Nasdaq: MDLZ) today announced that it has completed the acquisition of Chipita Global SA, a rapidly growing leader in European croissants and pastries central and eastern snack category.
The acquisition marks an exciting step in the Company’s strategic plan, which is focused on accelerating growth in areas of proximity to basic snacks, while continuing to expand its presence in key markets.
Established in Greece over 40 years ago, Chipita SA supplies croissants and other brands of baked snacks to two billion consumers in more than 50 countries. The acquisition enhances the company’s offering in the attractive $ 65 billion packaged baked snacks category and enables MondelÄ“z International to offer a broad portfolio of baked snacks in Europe, with a significantly increased presence on the fast growing markets of Central and Eastern Europe.
“We are delighted to officially welcome Chipita Global SA to MondelÄ“z International, bringing together our strong brands and heritage, as we continue to deliver tasty snacks and innovate across all of our brands to meet a wide range of changing needs. of consumers, â€said Dirk Van de Put, CEO of MondelÄ“z International. “Chipita’s iconic brands and their significant scale in many attractive geographies make them a strong strategic addition to our existing portfolio and our ambitions for future growth in Europe and beyond. “
Chipita has been at the forefront of the development and growth of the croissants and baked snacks industry in several countries, thanks to 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 croissants and baked snacks brands like 7Days. A formal onboarding process will take effect over the next six months.
MondelÄ“z International will use the capabilities of Chipita’s distribution network in Central and Eastern Europe to improve its own distribution in the region, while continuing to introduce its brands in new countries in the region and beyond. The company also plans to build on the differentiated capabilities of Chipita Global SA with additional sourcing and manufacturing expertise.
The acquisition of Chipita Global SA builds on MondelÄ“z International’s continued expansion into fast-growing snacking segments. In 2021, the Company acquired Grenada, one of the UK’s leading performance nutrition companies; Gourmet Food Holdings, a leading Australian food company in the attractive premium cookies and crackers category; and Hu, a wellness snacking company in the United States.
About Mondelēz International
MondelÄ“z International, Inc. (Nasdaq: MDLZ) enables people to snack directly in more than 150 countries around the world. With net sales of approximately $ 27 billion in 2020, MDLZ is leading the future of snacking with iconic global and local brands such as OREO, belVita and LU cookies; Cadbury Dairy Milk, Milka and Toblerone chocolate; Sour Patch Kids candy and Trident gum. MondelÄ“z International is proud to be a member of the Standard and Poor’s 500, Nasdaq 100 and Dow Jones Sustainability indices. Visit www.mondelezinternational.com or follow the company on Twitter at www.twitter.com/MDLZ.
About Chipita SA
Chipita SA was established in Greece 40 years ago. It is one of the largest producers of savory and sweet snacks in Central and Eastern Europe, with a turnover of approximately $ 580 million in 2020. With a leading position in the production of packaged croissants and baked snacks, the company has a portfolio of iconic brands which among others: 7Days, Chipicao and Fineti. One of the pillars of the company’s decision-making has been the development and expansion of confectionery and baked snacks into many markets, through innovation and strong manufacturing capabilities. It has 13 production plants with a presence in more than 50 countries and employs more than 5,100 people.
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 such forward-looking statements, including, but not limited to, statements on MondelÄ“z International’s strategy and growth plans, the transaction and the expected results of the transaction, as well as the benefits and future prospects of the business of Chipita Global SA. These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the control of MondelÄ“z International, which could cause MondelÄ“z International’s actual results to differ materially from those indicated in these forward-looking statements. Please also review MondelÄ“z International’s risk factors, as they may change from time to time, set out in its filings with the United States Securities and Exchange Commission, including its latest annual report filed on Form 10 -K. MondelÄ“z International disclaims and assumes no obligation to update or revise any forward-looking statement in this press release, except as required by applicable law or regulation.
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