Mondelēz International to Acquire Evirth, a China Leader in Fast-Growing Cakes and Pastries
Mondelēz International has announced an agreement to acquire a significant majority stake in Evirth, a leading manufacturer of cakes and pastries in China. This acquisition aligns with Mondelēz's strategy to accelerate growth in the cakes and pastries category, alongside chocolate and biscuits. Evirth, founded in 2013, is a leader in the frozen-to-chilled cakes and pastries market in China, estimated at US $3 billion and growing at about 15% annually.
Mondelēz already holds a minority investment in Evirth, collaborating on products featuring iconic brands like Oreo and Philadelphia. The acquisition aims to meet the rising demand for fresh, premium offerings, especially among younger consumers in top-tier Chinese cities. It builds upon Mondelēz's previous acquisitions in the baked snacks sector, including Give & Go in North America and Chipita Global SA in Central and Eastern Europe.
Mondelēz International ha annunciato un accordo per acquisire una significativa partecipazione di controllo in Evirth, un produttore leader di torte e dolciumi in Cina. Questa acquisizione si allinea con la strategia di Mondelēz di accelerare la crescita nella categoria delle torte e dolciumi, insieme a cioccolato e biscotti. Evirth, fondata nel 2013, è leader nel mercato delle torte e dolciumi congelati e refrigerati in Cina, stimato in 3 miliardi di dollari statunitensi e in crescita di circa 15% annualmente.
Mondelēz detiene già un investimento di minoranza in Evirth, collaborando su prodotti con marchi iconici come Oreo e Philadelphia. L'acquisizione mira a soddisfare la crescente domanda di offerte fresche e premium, in particolare tra i giovani consumatori nelle principali città cinesi. Essa si basa sulle precedenti acquisizioni di Mondelēz nel settore degli snack da forno, inclusi Give & Go in Nord America e Chipita Global SA in Europa centrale e orientale.
Mondelēz International ha anunciado un acuerdo para adquirir una participación mayoritaria significativa en Evirth, un fabricante líder de pasteles y postres en China. Esta adquisición se alinea con la estrategia de Mondelēz para acelerar el crecimiento en la categoría de pasteles y postres, junto con chocolate y galletas. Evirth, fundada en 2013, es líder en el mercado de pasteles y postres congelados y refrigerados en China, estimado en 3 mil millones de dólares estadounidenses y creciendo alrededor de 15% anualmente.
Mondelēz ya posee una inversión minoritaria en Evirth, colaborando en productos con marcas icónicas como Oreo y Philadelphia. La adquisición tiene como objetivo satisfacer la demanda creciente de ofertas frescas y premium, especialmente entre los consumidores más jóvenes en las principales ciudades chinas. Se basa en las adquisiciones previas de Mondelēz en el sector de snacks horneados, incluyendo Give & Go en América del Norte y Chipita Global SA en Europa Central y del Este.
몬델리즈 인터내셔널은 중국의 케이크 및 페이스트리 선도 제조업체인 Evirth의 대다수 지분 인수 계약을 발표했습니다. 이번 인수는 초콜릿과 과자를 포함한 케이크 및 페이스트리 카테고리에서 성장을 가속화하려는 몬델리즈의 전략과 일치합니다. 2013년에 설립된 Evirth는 중국의 냉동 및 냉장 케이크 및 페이스트리 시장에서 선두주자로, 시장 규모는 30억 달러로 추정되며 매년 약 15% 성장하고 있습니다.
몬델리즈는 이미 Evirth에 소수 지분을 보유하고 있으며, 오레오와 필라델피아와 같은 상징적인 브랜드의 제품에서 협력하고 있습니다. 이번 인수는 특히 1급 도시의 젊은 소비자들 사이에서 신선하고 프리미엄 제품에 대한 수요 증가에 부응하기 위해 진행됩니다. 또한 몬델리즈가 북미에서 Give & Go, 중앙 및 동유럽에서 Chipita Global SA와 함께한 이전의 베이커리 스낵 부문 인수를 기반으로 하고 있습니다.
Mondelēz International a annoncé un accord pour acquérir une participation majoritaire significative dans Evirth, un fabricant leader de gâteaux et pâtisseries en Chine. Cette acquisition s'aligne sur la stratégie de Mondelēz visant à accélérer la croissance dans la catégorie des gâteaux et pâtisseries, en parallèle avec le chocolat et les biscuits. Evirth, fondée en 2013, est un leader sur le marché des gâteaux et pâtisseries congelés et réfrigérés en Chine, estimé à 3 milliards de dollars américains et en croissance d'environ 15% par an.
Mondelēz détient déjà un investissement minoritaire dans Evirth, collaborant sur des produits mettant en avant des marques emblématiques telles que Oreo et Philadelphia. L'acquisition vise à répondre à la demande croissante d'offres fraîches et premium, notamment parmi les jeunes consommateurs dans les grandes villes chinoises. Elle s'inscrit dans la continuité des acquisitions précédentes de Mondelēz dans le secteur des snacks de boulangerie, y compris Give & Go en Amérique du Nord et Chipita Global SA en Europe centrale et orientale.
Mondelēz International hat eine Vereinbarung bekannt gegeben, um eine bedeutende Mehrheitsbeteiligung an Evirth, einem führenden Hersteller von Kuchen und Gebäck in China, zu erwerben. Diese Übernahme steht im Einklang mit der Strategie von Mondelēz, das Wachstum in der Kategorie Kuchen und Gebäck gemeinsam mit Schokolade und Keksen voranzutreiben. Evirth, gegründet im Jahr 2013, ist Marktführer im Bereich gefrorene und gekühlte Kuchen und Gebäck in China, dessen Markt auf 3 Milliarden US-Dollar geschätzt wird und jährlich um etwa 15% wächst.
Mondelēz hält bereits eine Minderheitsbeteiligung an Evirth und arbeitet bei Produkten mit ikonischen Marken wie Oreo und Philadelphia zusammen. Die Übernahme zielt darauf ab, die wachsende Nachfrage nach frischen, hochwertigen Angeboten insbesondere bei jüngeren Verbrauchern in den führenden chinesischen Städten zu decken. Sie baut auf den zuvor getätigten Übernahmen von Mondelēz im Bereich der Backwaren-Snacks auf, darunter Give & Go in Nordamerika und Chipita Global SA in Mittel- und Osteuropa.
- Acquisition of a majority stake in Evirth, a leader in China's frozen-to-chilled cakes and pastries market
- Expansion into a fast-growing category with 15% annual growth rate
- Access to Evirth's strong distribution network in Chinese club stores
- Opportunity to leverage Mondelēz's iconic brands (Oreo, Philadelphia) in product innovations
- Strengthens Mondelēz's position in the $3 billion Chinese cakes and pastries market
- Potential regulatory challenges in obtaining approval for the acquisition
- Integration risks associated with merging operations and cultures
- Possible increased competition in the Chinese market
Insights
Mondelēz's acquisition of Evirth is a strategic move to capitalize on China's rapidly growing
This acquisition builds upon Mondelēz's existing minority stake in Evirth, potentially allowing for synergies and cost efficiencies. By leveraging Evirth's strong distribution network and R&D capabilities, Mondelēz can accelerate its presence in China's premium snack market, particularly among younger consumers in top-tier cities. The move follows Mondelēz's successful acquisitions of Give & Go and Chipita Global SA, indicating a consistent strategy to grow in the baked goods sector globally.
This acquisition taps into key consumer trends in China's snack market. There's a growing demand for fresh, premium offerings with innovative flavors, catering to diverse snacking occasions. By combining Evirth's local expertise with Mondelēz's global brands like Oreo and Philadelphia, the company is well-positioned to capture market share in this fast-growing segment.
The focus on frozen-to-chilled products aligns with the convenience factor sought by urban consumers. This move could potentially disrupt the traditional bakery sector in China, offering high-quality, branded alternatives to fresh-baked goods. The success of this strategy will depend on Mondelēz's ability to adapt its global brands to local tastes while maintaining Evirth's innovation pipeline and distribution strengths.
- Significantly expands Mondelēz investment in a China category leader for frozen-to-chilled cakes and pastries
- Meets rising demand for fresh, premium offerings – especially among younger consumers in top-tier cities
- Builds upon existing strategic partnership to launch new Oreo and Philadelphia branded product innovations and expand distribution
CHICAGO, Sept. 20, 2024 (GLOBE NEWSWIRE) -- Mondelēz International, Inc. (Nasdaq: MDLZ) today announced that it has signed an agreement to acquire a significant majority stake in Evirth, a leading manufacturer of cakes and pastries in China, subject to customary closing conditions, including regulatory approval. The move represents an important step forward in Mondelēz’s strategy to accelerate growth in the cakes and pastries category – a core focus for the company, alongside chocolate and biscuits.
Founded in 2013, Evirth is a leader in frozen-to-chilled cakes and pastries in China, a category currently estimated at US
Mondelēz already has a minority investment in Evirth to develop, manufacture and supply frozen-to-chilled cakes and pastries in China featuring some of its iconic brands, including Oreo and Philadelphia. Evirth is growing rapidly, driven by its strong distribution in club stores across China, as well as its R&D and technical expertise.
“We’re excited about the opportunity to accelerate our growth in cakes and pastries through continuous innovation, leveraging our high-value brands to create more premium tastes and formats,” said Dirk Van de Put, Mondelēz Chair and CEO.
“We are excited that Mondelēz International is increasing its investment in Evirth, and this is a historic moment for us,” said Linfeng Xu, Chairman, founder and general manager of Evirth. “By bringing in Mondelēz's brand experience, technical strength, and international network, Evirth can be better positioned to provide premium products for our customers and consumers.”
Mondelēz already has delivered strong growth in cakes, pastries and other baked snacks through its April 2020 acquisition of Give & Go, the leading manufacturer of frozen-to-fresh brownies, cookies, cupcakes and related bakery products in North America, and its January 2022 acquisition of Chipita Global SA, a high-growth leader in croissants, baked rolls and related snacks, focused in Central and Eastern Europe, with increasing expansion to additional markets.
About Mondelēz International
Mondelēz International, Inc. (Nasdaq: MDLZ) empowers people to snack right in over 150 countries around the world. With 2023 net revenues of approximately
About Evirth
Founded in 2013, Evirth is a large-scale enterprise dedicated to the research, development, production, and sale of frozen cakes and pastry products. Evirth provides mille crepe cakes, Swiss cake rolls, mousse cakes, cheesecakes, puffs, daifuku, snowy mooncakes, cookies, and related products for membership clubs, retail chains, catering chains, new media retailers and other channels who serve great food.
Forward-Looking Statements
This press release contains forward-looking statements. Words, and variations of words, such as “will,” “may,” “expect,” “plan,” “continue” and similar expressions are intended to identify these forward-looking statements, including, but not limited to, statements of belief or expectation and statements about Mondelēz International’s leadership position in snacking. These forward-looking statements are subject to change and to inherent risks and uncertainties, many of which are beyond Mondelēz International’s control, which could cause Mondelēz International’s actual results or outcomes to differ materially from those projected or assumed 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 and subsequent Quarterly Reports on Form 10-Q. There may be other factors not presently known to Mondelēz International or which it currently considers to be immaterial that could cause Mondelēz International’s actual results to differ materially from those projected in any forward-looking statements it makes. 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.
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