Greece: Mondelez to buy snack maker Chipita for $2 billion

Mondelez International, the snack and confectionery multinational, has announced the acquisition of Greek snacking company Chipita for approximately $2 billion.

Chipita is a producer of salty and sweet snacks in Central and Eastern Europe, with a leading position in the production of packaged croissant and baked snacks, having a portfolio of brands that among others include 7Days, Chipicao, and Fineti.

According to company’s statement, the acquisition will allow Mondelez business to offer a broader bakery portfolio to meet the growing consumer demand.

“Welcoming Chipita S.A.’s delicious pastry products into the Mondelēz International family advances our strategy to become the global leader in broader snacking,” said Dirk Van de Put, chairman & CEO of Mondelez International. “Their 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.”

Source: Mondelez press release