Mondelēz expands Australian presence with Gourmet Food Holdings acquisition
Mondelēz International has confirmed it is to acquire Australian food company Gourmet Food Holdings Pty, specialising in the premium biscuit and cracker market, writes Neill Barston.
The latest addition to the group is behind established local brands such OB finest, Olina’s Bakehouse and Crispbic, gaining a notable market share in the wider region, including New Zealand, and has become notable for trend setting innovations within health and wellbeing segments.
Terms of the deal have not been released, but the latest agreement follows Mondelēz completing a deal for Hu Master Holdings, the parent company of Hu Products, which includes chocolate bar ranges, as well as other snacks series such as crackers within its US market operations.
“This is a great strategic asset for us in a very important market” said Dirk Van de Put, Chairman and CEO of Mondelēz International on its latest Australian move, which is expected to conclude in April.
“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.”
Oliver Flint, current Chief Operating Officer, has been appointed as Gourmet Food’s Managing Director while co-founder and CEO Todd Wilson will remain with the business as an advisor. Mondelēz International will provide Gourmet Food with resources to accelerate growth, while leveraging its manufacturing, research and development 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, EVP & President, Asia Pacific, Middle East and Africa, Mondelēz International. “We are excited to welcome Oliver, Todd and the entire Gourmet Food team to our organisation.”