American food and confections firm Mondelez International announced Tuesday that it has formed an agreement to purchase Gourmet Food Holdings Pty Ltd, a maker of premium crackers based in Australia. The company did not reveal the financial terms of the deal.

Gourmet Food’s OB finest, Olina’s Bakehouse, Crispbic and other brands lead their categories in the Australia and New Zealand (ANZ) region. Mondelez said the transaction will boost its presence in the crackers and biscuits segment in the countries.

“This is a great strategic asset for us in a very important market,” Dirk Van de Put, chairman and chief executive officer of Mondelez, said in a statement. “With our iconic biscuit brands such as Oreo and belVita, as well as our leadership in chocolate with Cadbury, this acquisition will accelerate our broader snacking leadership in Australia and New Zealand.”

Mondelez named the firm’s current chief operating officer Oliver Flint as Gourmet Food’s managing director. The Australian company’s CEO and co-founder Todd Wilson will stay on as an advisor. Once the business comes under its ownership, Mondelez said it will use its resources to further Gourmet Food’s growth while leveraging its manufacturing and R&D capabilities.

“With fast-growing premium and well-being products, strong customer relationships, and agile, local manufacturing, these brands will be a great complement to our local portfolio,” said Maurizio Brusadelli, executive vice president and president, Asia Pacific, Middle East and Africa at Mondelez, in a release. “We are excited to welcome Oliver, Todd, and the entire Gourmet Food team to our organization.”

The sale is expected to close next month.

By 2027, the global biscuits market, which includes crackers, is expected to reach a value of $110 billion, according to a recent forecast by Data Bridge Market Forecast.