Mondelēz International (NASDAQ:MDLZ) strikes a deal to acquire a majority interest in Give & Go from Thomas H. Lee Partners.
Give & Go is described as a North American leader in fully-finished sweet baked goods and owners of the famous “two-bite” brand and the Create-A-Treat brand known for cookie and gingerbread house decorating kits.
The company says the acquisition will further expand its leadership position in broader snacking.
“Our ambition is to lead the future of snacking by offering consumers a broad range of snacks in key growth channels and categories,” says Mondelez exec said Glen Walter. “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,” he adds.
The transaction is expected to close in Q2.
Financial terms weren’t disclosed.
MDLZ -0.88% premarket to $57.23.
Source: Press Release
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