FDBusiness.com

Mondelēz International to Acquire US Biscuit Brand For $500 Million

 Breaking News
  • Campbell Soup Company CEO Retires US food group Campbell Soup Company has announced that Denise Morrison, President and Chief Executive Officer, has chosen to retire with immediate effect. Keith McLoughlin, a Campbell Board member since 2016, has been named interim CEO and will also remain a member of the Board to facilitate an orderly transition in management while recently elevated [...]...
  • Valio Establishes New Business Units in China Valio, the Finnish dairy co-operative, is stepping up its activities in China with the opening of a new head office in Shanghai. The newly established head office will focus on serving the Chinese market. Besides the Ingredient business units, Valio China has also established the new business units of Retail and Food Service. According to Euromonitor [...]...
  • Nestlé Launches Global Initiative to Help Children Lead Healthier Lives Nestlé has announced its global ‘Nestlé for Healthier Kids’ initiative. The program includes the further development of healthier products and advice for families on nutrition and exercise. It aims at helping 50 million children lead healthier lives by 2030. Since its foundation, Nestlé has been committed to helping parents and caregivers provide the right nutrition to their children. [...]...
  • Dunnes Stores Simply Better Collection Recognised at International Excellence Awards Dunnes Stores’ Simply Better Collection will be presented with five prestigious accolades at the Private Label Manufacturers Association (PLMA’s) 2018 International Salute To Excellence Awards, taking place later this month in Amsterdam. This is the third year in a row that the Dunnes Stores Simply Better Collection has been recognised for excellence at the PLMAs, last year [...]...
  • CHEP Enables Highland Spring Group to Achieve Substantial Environmental Savings Highland Spring Group, the UK’s largest supplier and producer of natural source bottled water, is enjoying significant environmental savings thanks to the use of CHEP’s pooled pallets within its supply chain. Last year, the owner of brands such as Highland Spring, Speyside Glenlivet and Hydr8, signed a three-year contract renewal with CHEP, the supply chain [...]...

Mondelēz International to Acquire US Biscuit Brand For $500 Million

Mondelēz International to Acquire US Biscuit Brand For $500 Million
May 09
09:57 2018

Mondelēz International has agreed with The Riverside Company, a global private equity firm, and other shareholders, including founder Kathleen King, to acquire Tate’s Bake Shop for approximately $500 million. Known for its signature thin-and-crispy cookies with simple, authentic, high-quality ingredients, Tate’s is a fast growing, premium cookie and baked goods brand.

Founded in 2000 on Long Island, New York, Tate’s has cultivated a devoted consumer following across the country. With a strong founder story and on-trend products, Tate’s has been one of the fastest growing biscuit brands in the United States over the last 12 months. The brand’s sales have quadrupled over the past five years. In 2018, retail sales in measured channels have grown by more than 40 percent through March.

“Tate’s is a great strategic fit that will complement our portfolio of beloved snacks brands,” says Dirk Van de Put, chairman and chief executive of Mondelēz International. “With a unique and authentic brand and truly delicious products, this acquisition gives us an attractive entry point into the fast growing premium cookie segment. Tate’s has demonstrated exceptional and very profitable growth, and we look forward to working with the Tate’s management team to expand distribution and build upon that success.”

Mondelēz International will operate Tate’s as a separate standalone business to nurture its entrepreneurial spirit and maintain the authenticity of the brand while providing resources to accelerate growth. Tate’s Bake Shop senior leadership will continue to run the Tate‘s business from its headquarters on Long Island, including its Bake Shop located in Southampton. Tate’s will continue to produce all products at its current manufacturing facility.

The acquisition is subject to customary closing conditions and is expected to close during the summer of 2018.

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • May 21, 2018London Int'l Wine Fair
  • May 22, 2018European Coffee Expo
  • June 1, 2018Gluten Free Expo Slovakia
  • June 3, 2018Vinoble
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements