USA – Confectionery giant, Mondelēz International has entered into an agreement to acquire a significant majority stake in Give & Go, a North American in-store bakery company.
Give & Go is known to be one of the leading makers of fully-finished sweet baked goods and owner of the two-bite and Create-A-Treat brands known for cookie and gingerbread house decorating kits.
With a broad product portfolio ranging from brownies, cupcakes, pastries and muffins, as well as access to the fast-growing in-store bakery channel, the acquisition of Give & Go will expand Mondelēz’ leadership in broader snacking.
Mondelēz said that Give & Go products are a complementary addition to its portfolio of global and local brands such as Oreo, Cadbury, Milka and belVita, as well as Tate’s Bake Shop and Perfect Snacks.
According to a statement released by Mondelēz, the company has delivered attractive growth over the past several years with net revenues of approximately US$500 million 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,” said Glen Walter, Executive Vice President and President, North America, for Mondelēz International.
“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.
“We look forward to working with Joel Flatt and the entire Give & Go management team to build upon their strong success.”
Give & Go is the latest addition Mondelēz International’s growing portfolio following tlast year’s acquisition of Perfect Snacks and the 2018 purchase of Tate’s Bake Shop
As with other recent acquisitions, Mondelēz said that it will operate Give & Go separately in order to nurture its innovative and entrepreneurial spirit while providing access to consumer and channel insights, procurement and marketing resources to accelerate growth.
Post-acquisition, Give & Go’s senior leadership team will retain a minority interest in the company and continue to run the business from their existing headquarters while all Give & Go products will continue to be made at their current manufacturing locations.
“We are now very excited to be joining the Mondelēz International family and this amazing portfolio of iconic snack brands,” said Joel Flatt, President and CEO of Give & Go.
“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.”
The transaction is subject to customary closing conditions and expected to close in the second quarter of 2020.