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May 20, 2022
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Mondelēz International Closes Deal to Acquire Chipita Global S.A., High-Growth European Leader in Croissants and Baked Snacks

  • Welcomes Chipita Global S.A., with its talented people, beloved brands and powerful heritage, into Mondelēz International
  • Opens up potential for innovation, uniting Chipita Global S.A croissant and baked snacks with Mondelēz brands such as Cadbury and Milka

Mondelēz International, Inc. (Nasdaq: MDLZ) announces that it has completed the acquisition of Chipita Global S.A., a high-growth leader in the Central and Eastern European croissants and baked snacks category.

The acquisition will enable Mondelēz International to offer a broad bakery portfolio in Europe, meeting growing consumer demand for this segment. It also opens up strong potential for innovation, bringing together iconic Mondelēz International brands such as Cadbury and Milka, with beloved Chipita Global S.A croissant and baked snack brands like 7Days. Chipita’s products are already reaching two billion consumers across more than 50 countries.

“Chipita is a fantastic business, built on strong foundations by a team of incredibly talented people. We are looking forward to welcoming its people, well-loved brands, and powerful heritage, into Mondelēz International, as we advance our strategy to become a global leader in snacking and core snacking adjacencies,” said Vince Gruber, EVP & President Mondelez Europe. “Establishing Mondelēz International in the croissants and baked snacks category through Chipita Global S.A. will contribute to accelerated growth across Europe and will help to expand our presence in key fast-growing Central and Eastern markets”.

From today, an interim management team will be put in place to manage the Chipita operations and support the integration process, which will take place in 2022.  The interim management team, which is a balanced blend of experienced Mondelēz International and existing Chipita Global S.A. leaders, will be led by Ivo Naydenov, who has been with Mondelēz International for nearly 20 years and has worked extensively across southeast Europe. Ivo will bring a broad range of expertise to this role, built up over a long career in the food and snacking industry both within and beyond Mondelēz International.

New interim CEO, Ivo Naydenov, said: “I have long admired Chipita and am excited about working together with our new colleagues to support innovation and great new product combinations, which this makes possible. Embarking on this relationship together brings the opportunity to both learn from each other but also grow together, creating new prospects for our people and brands. We plan to bring Chipita Global S.A. into Mondelēz International in a thoughtful, responsible and caring way, respecting the great business that has been built by its people over the last 40 years.”

Further details on the long-term leadership plans, beyond the integration period, will be shared in due course, a press release issued by Mondelēz International informs.

 

 

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