Mondelēz International is once again expanding its brand portfolio in the bakery sector. This week, the food giant announced an agreement to acquire a significant majority interest in Give & Go, provider and owner of well-known brands like the “two-bite”® brand and “Create-A-Treat”®.
“Our ambition is to lead the future of snacking by offering consumers a broad range of snacks in key growth channels and categories,” said Glen Walter, Executive Vice President and President, North America, for Mondelēz International. “Give & Go’s leading position in the large and fast-growing in-store bakery channel gives us a unique opportunity to expand into new, on-trend consumer spaces.”
According to a press release, Give & Go, which holds a leading market position in brownies, cupcakes, pastries, and muffins, as well as access to the fast-growing in-store bakery channel, will help expand Mondelēz International’s its snacking portfolio by complementing brands like Oreo, Cadbury, Milka, belVita, and more.
“Similar to our recent acquisitions of Perfect Snacks and Tate’s Bake Shop, this is yet another great example of our bolt-on acquisition strategy to establish foundations in faster growing snacking adjacencies,” continued Walter. “We look forward to working with Joel Flatt and the entire Give & Go management team to build upon their strong success.”
The transaction is subject to customary closing conditions and expected to close in the second quarter of 2020.
For more of the latest industry news like this, stay tuned to Deli Market News.