Mondelēz International Completes Acquisition of Give & Go
CHICAGO, April 01, 2020 (GLOBE NEWSWIRE) -- 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 International
Mondelēz 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 & Go
Give & 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.
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.