Mondelēz International Acquires Australian Premium Cracker Company Gourmet Food Holdings

Rhea-AI Summary

Mondelēz International (NASDAQ: MDLZ) has announced its acquisition of Gourmet Food Holdings Pty Ltd, an Australian company known for its premium biscuit and cracker products. This move enhances Mondelēz's position in the fast-growing premium and well-being food segment in Australia and New Zealand (ANZ). With brands like OB finest and Olina's Bakehouse, Gourmet Food is a leader in its category. The deal, which is expected to close in April 2021, includes Gourmet Food's prepackaged seafood business and is anticipated to accelerate Mondelēz's growth in the region.

Positive

• Strategic acquisition of Gourmet Food enhances Mondelēz's presence in the premium cracker market.
• Gourmet Food's strong brand portfolio complements Mondelēz's existing biscuit brands.
• Acquisition expected to drive growth in Australia and New Zealand's snacking sector.

Negative

• None.

• Enters fast-growing premium and well-being cracker segment
• Provides attractive platform to drive broader biscuit portfolio in Australia and New Zealand

CHICAGO, March 09, 2021 (GLOBE NEWSWIRE) -- Mondelēz International (Nasdaq: MDLZ) today announced it has entered into an agreement to acquire Gourmet Food Holdings Pty Ltd, a leading Australian food company with a strong position in the attractive premium biscuit and cracker category. Terms of the transaction were not disclosed.

Gourmet Food’s brands, including OB finest, Olina’s Bakehouse and Crispbic, have grown to become category leaders in the premium crackers and biscuits segments throughout Australia and New Zealand (ANZ) through on-trend innovations, including health and well-being offerings.

“This is a great strategic asset for us in a very important market,” said Dirk Van de Put, Chairman and CEO of Mondelēz International. “With our iconic biscuit brands such as Oreo and belVita, as well as our leadership in chocolate with Cadbury, this acquisition will accelerate our broader snacking leadership in Australia and New Zealand.”

Oliver Flint, current Chief Operating Officer, has been appointed as Gourmet Food’s Managing Director while co-founder and CEO Todd Wilson will remain with the business as an advisor. Mondelēz International will provide Gourmet Food with resources to accelerate growth, while leveraging its manufacturing, research and development capabilities.

“With fast-growing premium and well-being products, strong customer relationships and agile, local manufacturing, these brands will be a great complement to our local portfolio,” said Maurizio Brusadelli, EVP & President, Asia Pacific, Middle East and Africa, Mondelēz International. “We are excited to welcome Oliver, Todd and the entire Gourmet Food team to our organization.”

Included in the transaction is Gourmet Food’s prepackaged seafood business including the Ocean Blue brand. There are no closing conditions and the transaction is expected to close in April.

About Mondelēz International
Mondelēz International, Inc. (Nasdaq: MDLZ) empowers people to snack right in over 150 countries around the world. With 2020 net revenues of approximately $27 billion, MDLZ is leading the future of snacking with iconic global and local brands such as OREO, belVita and LU biscuits; Cadbury Dairy Milk, Milka and Toblerone chocolate; Sour Patch Kids candy and Trident gum. Mondelēz International is a proud member of the Standard and Poor’s 500, Nasdaq 100 and Dow Jones Sustainability Index. Visit www.mondelezinternational.com or follow the company on Twitter at www.twitter.com/MDLZ.

About Gourmet Foods
Gourmet Food is the leading manufacturer and distributor of premium entertaining food products. It is one of the fastest growing food businesses in Australia and is the market leader across its core categories. Gourmet Food operates from Melbourne, Australia, manufacturing one of the largest and most diverse range of premium cracker products under one roof. Visit gourmetfood.com.au.

Forward-Looking Statements
This press release contains forward-looking statements. Words, and variations of words, such as “will,” “may,” “expect” and similar expressions are intended to identify these forward-looking statements, including, but not limited to, statements about the transaction, the expected results of the transaction and the future prospects for the Gourmet Food business. These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond Mondelēz International’s control, which could cause Mondelēz International’s actual results to differ materially from those indicated in these forward-looking statements. Please also see Mondelēz International’s risk factors, as they may be amended from time to time, set forth in its filings with the U.S. Securities and Exchange Commission, including its most recently filed Annual Report on Form 10-K. Mondelēz International disclaims and does not undertake any obligation to update or revise any forward-looking statement in this press release, except as required by applicable law or regulation.

Contact:	Jess Vogl (Media)	Shep Dunlap (Investors)
	+1 847 943 5678	+1 847 943 5454
	news@mdlz.com	ir@mdlz.com

FAQ

What is the purpose of Mondelēz's acquisition of Gourmet Food Holdings?

The acquisition aims to strengthen Mondelēz's portfolio in the premium biscuit and cracker segments, enhancing its market position in Australia and New Zealand.

When is the acquisition of Gourmet Food expected to close?

The acquisition transaction is anticipated to close in April 2021.

What are the brands included in the Gourmet Food portfolio?

Gourmet Food's brands include OB finest, Olina’s Bakehouse, and Crispbic, known for premium crackers.

How does this acquisition impact Mondelēz's business strategy?

The acquisition aligns with Mondelēz's strategy to expand its snacking leadership and offers synergies in product offerings within the premium food segment.

Is the financial value of the acquisition disclosed?

No, the financial terms of the transaction have not been disclosed.