Mondelēz International to acquire in-store bakery company Give & G
Mondelēz International has agreed to acquire a majority interest in North American bakery firm Give & Go, in a move to broaden its position in snacking.
The owner of Cadbury and Oreo will purchase the sweet baked goods company from Thomas H. Lee Partners (THL) for an undisclosed sum. Founded in 1989, Give & Go provides fully finished sweet baked goods to retailers’ in-store bakery sections across North America.
According to Mondelēz, Give & Go reported net revenues of approximately $500 million in 2019.
As a result of the deal, Mondelēz will expand its position in broader snacking and be able to access the in-store bakery channel.
Give & Go’s portfolio includes a range of brownies, tarts and cupcakes under its Two-Bite brand, as well as the Create-A-Treat brand, known for cookie and gingerbread house decorating kits.
These products will join Mondelēz’ portfolio of global and local brands such as Oreo, Cadbury, Milka and belVita as well as Tate’s Bake Shop and Perfect Snacks.
“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. Walter added: “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.”
Last year, Mondelēz secured a deal to acquire a majority interest in Perfect Snacks, a US maker of refrigerated nutrition bars. “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,” said Walter.
In an official press statement, Mondelēz said it will operate Give & Go separately in order to nurture its innovative and entrepreneurial spirit while providing access to consumer and channel insights, procurement and marketing resources to accelerate growth.
Following closure of the deal, the current Give & Go management team will retain a minority interest in the company and continue to run the business from their existing headquarters.
All Give & Go products will continue to be made at their current manufacturing locations.
The transaction, subject to customary closing conditions, is expected to be completed in the second quarter of 2020.
