Enables expansion in the croissant and baked snack category
Friday, June 04, 2021
Mondelēz International announced last week that we have reached an agreement to acquire Chipita S.A., a high-growth key player in the Central and Eastern European croissants and baked snacks category.
Chipita S.A. was established over 40 years ago in Greece as a company producing and marketing snacks. Over the years, it has evolved to become one of the fastest growing and most innovative food companies in the region. The business has a proven track record of consistent growth with its portfolio of croissant and baked snacks, which include 7Days, Chipicao, and Fineti.
In 2020, Chipita S.A. generated approximately $580 million of revenue. Chipita S.A.'s products— which are produced in 13 manufacturing plants and delivered in more than 50 countries – reach 2 billion consumers, making it a strong platform in the attractive $65 billion global packaged cakes and pastry category.
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. In addition to bringing a new category to Mondelēz International, the acquisition will also offer significantly increased presence in the fast-growing Central and Eastern European markets where Chipita S.A.'s business is especially well positioned.“
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.
Over time, Mondelēz International expects to deliver comprehensive synergies and a range of benefits including procurement and manufacturing expertise, building upon Chipita S.A.differentiated capabilities.
The acquisition builds on Mondelēz International's continued expansion into fast-growing snacking segments. In 2021, the company acquired Grenade, a leading UK performance nutrition company, Gourmet Food Holdings, a leading Australian food company in the attractive premium biscuit and cracker category, and Hu, a well-being snacking company in the United States.
Welcome to the Mondelēz International family!