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Mondelez Expands Sweet Baked Goods Portfolio
February 25, 2020
4 Min Read
Chocolate, confectionery and snack foods firm Mondelez International said Tuesday that it is taking on a “significant” majority interest in North American sweet baked goods producer Give & Go, strengthening the company’s snacking portfolio.
“Our ambition is to lead the future of snacking by offering consumers a broad range of snacks in key growth channels and categories,” Glen Walter, executive vice president and president, North America for Mondelez, said in a company press release. “Give & Go’s leading position in the large and fast-growing in-store bakery channel gives us a unique opportunity to expand into new, on-trend consumer spaces.”
Known for its “two-bite” brand and “Create-a-Treat” brand of cookie and gingerbread house decorating kits, Give & Go produces brownies, pastries, muffins, and cupcakes. The company was established in 1989.
“Similar to our recent acquisitions of Perfect Snacks and Tate’s Bake Shop, this is yet another great example of our bolt-on acquisition strategy to establish foundations in faster growing snacking adjacencies,” said Walter. “We look forward to working with Joel Flatt and the entire Give & Go management team to build upon their strong success.”
The deal is expected to close by the second quarter of this year.
In October 2019, Mondelez completed a CAD$40 million (about $30.6 million) project to install a new candy production line at its manufacturing facility in Hamilton, ON, Powder & Bulk Solids reported. The firm’s new line has a capacity of 11 million pieces of candy per day.
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