Mondelēz snacking strategy surges forward with Give & Go acquisition completion
02 Apr 2020 --- Mondelēz International 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 popular two-bite brand of brownies and the Create-A-Treat brand, known for cookie and gingerbread house decorating kits. This deal is part of Mondelēz’s strategy to lead the future of snacking by offering consumers a broad range of snacks in key growth channels and categories.
“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,” says 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.”
Last June, Mondelēz strengthened its snack portfolio with the acquisition of Perfect Snacks, a supplier of refrigerated nutrition bars. This followed the acquisition of Tate’s Bake Shop, a fast-growing, premium cookie and baked goods brand, for approximately US$500 million in 2018.
As with other recent acquisitions, Mondelēz International will operate Give & Go separately in order to nurture its innovative and entrepreneurial spirit, the company notes.
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 well-known 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.
“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,” adds Joel Flatt, President and CEO, Give & Go.
Give & Go Prepared Foods Corp plays a key role in mini treats within the in-store bakery of retailers across North America. It 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.
Edited by Gaynor Selby
