Mondelēz to invest in cookies, close Philadelphia bakery
Feb. 7, 2014
by Jeff Gelski
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EAST HANOVER, N.J. — Mondelēz International plans to support priority cookie and cracker brands and product platforms through an investment of more than $130 million in new biscuit manufacturing technology and capabilities in its U.S. network, the company said Feb. 6. The investment will focus on bakeries in Fair Lawn, N.J., and Richmond, Va. Consolidating its U.S. biscuit manufacturing footprint on the East coast will result in the closing of the Philadelphia bakery in 2015. The bakery there produces a limited number of core products, according to Mondelēz. The closing will affect about 350 employees. Net revenues for U.S. biscuits grew 5% or more for the ninth consecutive quarter in the third quarter ended Sept. 30, 2013. Strong growth came from Oreo, Chips Ahoy! and belVita biscuits. Mondelēz International is scheduled to report its fiscal-year results Feb. 12.