Mondelēz International Names Luca Zaramella as Chief Financial Officer

USA - Mondelēz International, an American multinational confectionery company, has announced that Luca Zaramella, 49, Senior Vice President of Corporate Finance and a 20-year veteran of the company, will become EVP, Chief Financial Officer (CFO), effective August 1, 2018. Zaramella will replace Brian Gladden, who will leave the company in August. After 10 years as…

Mondelez International invests US$200m in Czech Republic

EUROPE - Mondelēz International, an American multinational confectionery, food, and beverage company, has announced it has invested US$200 million since 2014 in its Opava biscuit manufacturing facility, Europe. According to the company, the investment builds on Opava’s proud heritage of more than a century as a biscuit-making center and supports the company’s global growth strategy…

Mondelez announces plans to expand sustainable wheat sourcing program

USA - Mondelēz International, an American multinational confectionery, food, and beverage company, has announced its ambition to expand the Harmony program, the company’s sustainable wheat sourcing initiative. This expansion strategy is expected to cover 100% of its biscuit brands in the European Union by 2022, up from 60% of the company’s biscuit production in the…

Mondelēz International announces agreement to acquire Tate’s Bake Shop

USA - Mondelēz International has announced an agreement with The Riverside Company, a global private equity firm, and other shareholders, including Founder Kathleen King, to acquire Tate’s Bake Shop for approximately US$500 million. Founded in 2000 on Long Island, N.Y., Tate’s has cultivated a devoted consumer following across the country. According to the company, Tate’s…

Mondelēz International opens US$90m ‘Factory of the Future’ in Bahrain

USA - Mondelēz International, an American multinational food and beverage company has inaugurated its newest “Factory of the Future” in the Kingdom of Bahrain as it aims to meet the growing consumer demand. The company invested US$90 million in the state-of-the-art biscuit manufacturing plant that produces iconic Power Brands, including Oreo cookies and Barni soft…

Cadbury Nigeria launches new program to promote healthy living

NIGERIA - Cadbury Nigeria has launched a healthy lifestyle programme to promote healthy living among children and families by providing nutrition education, active play and fresh foods. This is part of Mondelēz International Foundation’s US$50 million multi-year initiative to promote healthy lifestyles and address obesity in ten countries including Argentina, Australia, Egypt, France, Nigeria, Russia,…

Cadbury Nigeria returns to profitability in full year 2017

NIGERIA - Cadbury Nigeria Plc, reported its full year 2017 results on Monday, with the Bournvita maker posting a net profit of ₦300m ($826,000). In the same period in 2016, the company recorded a net loss of ₦296m. The positive performance was driven by a 10% growth in sales to ₦33bn ($90 million) from ₦29.9bn.…