CHICAGO — Mondelez International, Inc. has completed the previously announced acquisition of a majority interest in Give & Go, a maker of sweet baked foods, including the two-bite brand of brownies and the Create-A-Treat brand of cookie and gingerbread house decorating kits. Financial terms of the transaction were not disclosed.
“As we continue to establish foundations in fast-growing snacking adjacencies, this is an important acquisition for our company that supports our ambition to lead the future of snacking,” said Glen Walter, executive vice president and president, North America for Mondelez International. “We look forward to working with the Give & Go management team as they build on their leading position in the large and fast-growing in-store bakery channel.”
Under terms of the agreement, Mondelez will operate Give & Go separately. Its senior leadership team will retain a minority interest and continue to run the business from its existing headquarters. Give & Go will benefit from Mondelez’s consumer and channel insights, procurement, marketing and sales resources.
“This is a unique opportunity for Give & Go to join the Mondelez International family and benefit from their capabilities to accelerate innovation, consumer engagement and strategic retail partnerships,” said Joel Flatt, president and chief executive officer of Give & Go.