Press release
Mondelēz International Acquires High-Growth European Snacking Company, Chipita S.A.
Strong platform with proven track record of high growth enhances offering in attractive $65B global packaged cakes and pastry categoryAddition of
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[{"type":"text","content":"Strong platform with proven track record of high growth enhances offering in attractive $65B global packaged cakes and pastry categoryAddition of differentiated brands, including 7Days, adds $580 million of revenue in priority adjacent snacking categories such as croissant and bake rollsOpportunity for shared benefits between Chipita S.A. and Mondelēz International from procurement, manufacturing, and future growthTransaction to be immediately accretive to earnings per share from closing based on comprehensive synergies CHICAGO, May 26, 2021 (GLOBE NEWSWIRE) -- Mondelēz International, Inc. (Nasdaq: MDLZ) today announced an agreement to acquire Chipita S.A., a high-growth key player in the Central and Eastern European croissants and baked snacks category. First established in Greece over 40 years ago, Chipita S.A. generated approximately $580 million of revenue in 2020 and has a proven track record of consistent growth from its portfolio of croissant and baked snack brands, including 7Days, Chipicao, and Fineti. Chipita S.A. has been at the forefront of the development and growth in the sector across multiple countries driven by its strong innovation and manufacturing capabilities. “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 Mondelēz 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.” Chipita S.A.’s products, produced in 13 manufacturing plants, and delivered in more than 50 countries, reach two billion consumers. The acquisition will enable the Mondelēz International business to offer a broad bakery portfolio - biscuits, cake and now pastry - meeting growing consumer demand for this segment. Chipita S.A.’s Chief Executive Officer, Spyros Theodoropoulos, said: “Chipita, for more than 40 years, based on quality and innovation created a new category of snacks loved by consumers internationally. I am certain that the acquisition of Chipita by Mondelēz International, one of the world’s leading snacking companies, will create new prospects for its people and products.” In addition to bringing a new category to Mondelēz I...