CHICAGO — Mondelez International, Inc. on Jan. 3 announced it has completed the acquisition of Chipita SA, a rapidly growing global baker of packaged cakes and pastries. The transaction was first announced in May 2021.

Founded in Athens, Greece, more than 40 years ago, Chipita SA generated sales of about $580 million in 2020. The company’s products include croissants, bagel chips, cake bars, biscuits and spreads sold mostly under the 7Days, Chipicao and Fineti brands. Chipita’s products are made in 13 manufacturing plants and are marketed in more than 50 countries (including the United States), reaching two billion consumers.

“We are delighted to formally welcome Chipita Global SA into Mondelez International, bringing together our strong brands and heritage, as we continue to deliver great-tasting snacks and innovate across our brands to meet a wide range of changing consumer needs,” said Dirk Van de Put, chairman and chief executive officer of Mondelez International. “Chipita’s 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.”

A formal integration process will take effect over the next six months.

Mondelez said it plans to use Chipita’s Central and Eastern European distribution network capabilities to enhance its own distribution in the region, while continuing to introduce its brands to new countries in the region and beyond. The company also expects to build on Chipita’s differentiated capabilities with additional procurement and manufacturing expertise.

In North America, Chipita since 2017 has been part of CCP, a joint venture with Catamo and Alberto Romo of Proan, a major food manufacturer in Mexico. The business sells mini croissants under the Vuala brand in Mexico.

The acquisition of Chipita to kick off 2022 follows an active year of acquisitions for Mondelez in 2021 in which the company acquired Grenade, a leading UK performance nutrition company; Gourmet Food Holdings, a leading Australian company in the premium biscuit and cracker category; and Hu, a US better-for-you snacking company.