You are currently viewing Mondelez grabs Greek croissant and also baked snacks major for $2bn

Mondelez– which published overall revenues of $26.6 bn in 2020– is shelling out $2bn for Chipita, following its ‘proven performance history of constant growth’. In 2015, its substantial bakery and also treats portolio – croissants, pastries, cakes, biscuits, pizzeti, potato chips, extruded treats as well as jams – generated around $580m in revenue.The purchase gains Mondelez an added 13 production facilities in Europe, in addition to a 5,100-strong workforce. It likewise increases its own profile to consist of Chipita’s key brand names such as 7Days, Chipicao, and Fineti.Ramping up global existence The deal is the Chicago-based Oreo maker’s fourth announced this yearas well as

its third international acquisition.In January, Mondelez introduced it had actually acquired 100%of New York City-based

healthy treats manufacturer Hu. This was followed with the acquisition of Australian biscuit and also cracker maker Gourmet Food Holdings in March, as well as by the bolt-on of U K-based healthy protein bar maker Grenade for ₤ 200m a simple two weeks later.Last year, Mondelez accepted purchase Go & give Prepared Foods Corp, a Canadian manufacturer oftwo-bite brownies, for $1.2 bn.Mondelez will certainly fund the purchase with a combination of brand-new debt and money on hand. It expects the acquisition topromptly add to benefit growth.In its 2021 first-quarter profits launch in April, the business stated it forecasted 2021 full-year natural earnings growth of roughly 3%, contrasted to 2020. Rothschild & Co. suggested Chipita on the bargain.