Mondelez International, the snack and confectionery multinational, has announced an agreement to acquire a majority interest in Give & Go, a US-based in-store bakery company.
Give & Go, which owns the brands Two-bite and Create-A-Treat, produces fully finished sweet baked goods that are sold across North America. The firm is said to have a leading position in brownies, cupcakes, pastries and muffins, and reported net revenues of $500 million in 2019.
Commenting on the deal, Glen Walter, executive vice president and president, North America, for Mondelez International, said: “Our ambition is to lead the future of snacking by offering consumers a broad range of snacks in key growth channels and categories”.
Joel Flatt, President and CEO of Give & Go added: “There are significant opportunities for us to accelerate the growth of our business by leveraging Mondelez International’s unique capabilities, and our shared desire to invest in innovation that drives consumer engagement and deeper strategic retail partnerships”.
Financial terms of the transaction were not disclosed.
Source: Give & Go