Mondelēz International Acquires In-store Bakery Company
Mondelēz International has announced an agreement to acquire a significant majority interest in Give & Go, a North American leader in fully-finished sweet baked goods and owners of the famous “two-bite” brand as well as the “Create-A-Treat” brand, known for cookie and gingerbread house decorating kits.
With a leading position in brownies, cupcakes, pastries, and muffins, as well as access to the fast-growing in-store bakery channel, the acquisition of Give & Go expands Mondelēz International’s leadership in broader snacking. Founded in 1989, Give & Go’s delicious and on-trend products are a complementary addition to Mondelēz International’s portfolio of global and local brands such as Oreo, Cadbury, Milka, and belVita, as well as Tate’s Bake Shop and Perfect Snacks. The company has delivered attractive growth over the past several years with net revenues of approximately USD500m in 2019.
“Our ambition is to lead the future of snacking by offering consumers a broad range of snacks in key growth channels and categories. 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. 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. We look forward to working with Joel Flatt and the entire Give & Go management team to build upon their strong success,” said Glen Walter, executive vice president and president, North America, for Mondelēz International.
“Our previous owner, THL, has been a great partner and invested significantly to grow our business. We are now very excited to be joining the Mondelēz International family and this amazing portfolio of iconic snack brands. There are significant opportunities for us to accelerate the growth of our business by utilizing Mondelēz International’s unique capabilities, and our shared desire to invest in innovation that drives consumer engagement and deeper strategic retail partnerships,” said Joel Flatt, president and CEO of Give & Go.
As with other recent acquisitions such as Perfect Snacks, Mondelēz International will operate Give & Go separately in order to nurture its innovative and entrepreneurial spirit, the company announced. The transaction is expected to close in the second quarter of 2020.