Mondelēz completes deal for Greek snacks business Chipita Global
SHAH ALAM, MALAYSIA - March 22, 2019 : Two different flavours of 7days brand croissant in the rack in the bakery section at supermarket. 7days brand is produced and manufactured by Chipita.
Global confectionery and group Mondelēz International has confirmed completion of its deal to buy Greek-based business Chipita Global, specialising in baked snacks and croissants, reports Neill Barston.
As the business noted, the acquisition marks a key milestone in its strategic plan, focused on accelerating growth in core snacking adjacencies, while continuing to expand its footprint in core markets.
Established more than 40 years ago, Chipita S.A. delivers croissants and other baked snack brands to two billion consumers in more than 50 countries. The move enhances the Company’s offering in the attractive $65 billion global packaged baked snacks category and enables Mondelēz International to offer a broad baked snacks portfolio in Europe, with a significantly increased presence in fast-growing Central and Eastern European markets.
“We are delighted to formally welcome Chipita Global S.A. into Mondelēz International, bringing together our strong brands and heritage, as we continue to deliver great-tasting snacks and innovate across our brands to meet a wide range of changing consumer needs,” said Dirk Van de Put, Chairman & CEO of Mondelēz International. “Chipita’s iconic brands and significant scale across so many attractive geographies make them a strong strategic complement to our existing portfolio and future growth ambitions in Europe and beyond.”
Chipita has been at the forefront of development and growth in the croissant and baked snacks sector across multiple countries, driven by its strong innovation and manufacturing capabilities. The acquisition offers exciting opportunities for innovation bringing together iconic Mondelēz International brands such as Cadbury and Milka, with beloved Chipita croissant and baked snack brands like 7Days. A formal integration process will take effect over the next six months.
Mondelēz International will utilize Chipita ’s Central and Eastern European distribution network capabilities to enhance its own distribution in the region, while continuing to introduce its brands to new countries in the region and beyond. The Company also expects to build on Chipita Global S.A.’s differentiated capabilities with additional procurement and manufacturing expertise.
The acquisition of Chipita Global S.A. builds on Mondelēz International’s continued expansion into fast-growing snacking segments. In 2021, the Company acquired Grenade, a leading UK performance nutrition company; Gourmet Food Holdings, a leading Australian food company in the attractive premium biscuit and cracker category; and Hu, a well-being snacking company in the United States.