Oreo maker Mondelez International Inc. is expanding its brand portfolio through a $2-billion deal with Chipita SA, Bloomberg reported.
- The transaction is expected to contribute to profits immediately. It will be funded by internal funds and new debts.
- The deal will broaden Mondelez’s footprint, especially in the Central and Eastern European regions where Chipita has captured the market.
- Chipita delivers its goods to over 50 countries which it produces in 13 plants. Products include croissants and baked snack brands.
- The European snackmaker recorded $580 million in revenue last year and has a “proven track” of consistent growth.
- Mondelez earlier this year announced the acquisition of British high-protein bar maker Grenade.
MDLZ: Nasdaq is down 0.024%.
