Mondelēz International said it has entered into an agreement to acquire a significant majority stake in Give & Go, a North American leader in fully-finished sweet baked goods.
The company owns the famous ‘two-bite’ brand and the ‘Create-A-Treat’ brand known for cookie and gingerbread house decorating kits.
Mondelēz said the acquisition will expand its leadership in broader snacking with Give & Go products complementing its portfolio of global and local brands.
“Our ambition is to lead the future of snacking by offering consumers a broad range of snacks in key growth channels and categories,” said Glen Walter, executive vice president and president, North America, for Mondelēz International.
“Give & Go’s leading position in the large and fast-growing in-store bakery channel gives us a unique opportunity to expand into new, on-trend consumer spaces.”
The deal follows the acquisitions by the snacking giant of Perfect Snacks, a pioneer in the fast-growing refrigerated nutrition bars segment, last year and Tate’s Bake Shop, a premium cookie and baked goods brand in 2018 .
Mondelēz said it will operate Give & Go separately as with other recent acquisitions to “nurture its innovative and entrepreneurial spirit.” Give & Go’s senior leadership team is expected to retain a minority stake in the company and continue to run the business from their existing headquarters.
Founded in 1989, Give & Go has delivered attractive growth over the past several years with net revenues of approximately $500 million (£388m) in 2019.