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Mondelez International, Inc. (Nasdaq: MDLZ) is an American multinational leader in the confectionery, food, and beverage industry, headquartered in Chicago. Since its inception following the split from Kraft Foods North American grocery business in October 2012, Mondelez has established itself as a key player in the global snack food market.
The company generates annual revenues of approximately $26 billion and operates in around 160 countries. Mondelez's diverse product portfolio includes some of the world’s most beloved brands such as Oreo, Chips Ahoy, Halls, and Cadbury. As of the end of fiscal 2023, its business segments are divided into biscuits (49% of sales), chocolate (30%), gum/candy (12%), beverages (3%), and cheese and grocery items (6%). The geographical revenue distribution is also extensive, with over a third coming from developing markets, just more than a third from Europe, and the rest from North America.
In recent developments, Mondelez has joined the Hedera Council, focusing on pioneering distributed ledger technology (DLT) solutions to innovate digital transformation in supply chain management and enhance business processes. They are exploring projects like the SKUx digital payment system to offer real-time consumer offers and improve customer experiences.
Mondelez continues to engage in significant corporate social responsibility initiatives. Notably, the Sour Patch Kids brand has launched the 'Mischief for Change' scholarship program in partnership with the Thurgood Marshall College Fund, which supports students at Historically Black Colleges and Universities (HBCUs).
The company is also proactive in its marketing and community engagement efforts, as demonstrated by the recent 'The Art of (Re)Play' campaign by Oreo in Shanghai. This initiative blends artistic expressions inspired by traditional Chinese culture with modern elements to foster community interaction and promote well-being.
Financially, Mondelez posted robust earnings and free cash flow in the first quarter of 2024, credited to strong pricing execution and effective cost management. Their outlook for 2024 includes a projected organic net revenue growth of 3-5% and high single-digit adjusted EPS growth.
Mondelez’s commitment to sustainable practices is reflected in its progress toward environmental, social, and governance (ESG) goals. The company continues to invest in renewable energy, regenerative agricultural practices, and aims to achieve net-zero carbon emissions by 2050.
With a strong global presence and a focus on innovation and sustainability, Mondelez International is poised to continue leading the snack food industry, driving growth, and creating value for its stakeholders.
Mondelēz International (Nasdaq: MDLZ) announced the redemption prices for its outstanding notes. The 1.000% Notes, redeemable on March 31, 2021, will cost €1,014.32 plus €0.65753 accrued interest, totaling €1,014.98 per €1,000. The 1.625% Notes will redeem for €1,038.25 plus €3.11644 interest, totaling €1,041.37. The 2.125% Notes will redeem for $1,032.63 plus $9.92 interest, totaling $1,042.55. Lastly, the 4.000% Notes will redeem for $1,099.87 plus $6.67 interest, totaling $1,106.54. This move is part of the company's ongoing financial strategy.
Mondelēz International (Nasdaq: MDLZ) announced an agreement to acquire a majority stake in Grenade, a UK performance nutrition brand specializing in high-protein bars. The acquisition aims to enhance its presence in the snacking and well-being segments, with Grenade holding a 13% market share in the UK's snack bar category. Grenade's successful products, including the best-selling Carb Killa® bar, will complement Mondelēz's brand portfolio. The deal is expected to close by the end of March, with Grenade continuing to operate independently under its current leadership.
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.
Hu Products has announced a nationwide voluntary recall of its Chocolate Covered Hunks - Sour Goldenberries product due to undeclared almonds, posing a serious risk to individuals with almond allergies. The recall affects only the 4 oz. bag with UPC 850180006510, lot code 202891, and a best by date of 08/2021. No other products are impacted, and no adverse reactions have been reported. Consumers should discard the product and contact the company for assistance. This recall is conducted with the knowledge of the U.S. FDA.
Mondelēz International (Nasdaq: MDLZ) has announced its commitment to cut virgin plastic use in rigid plastic packaging by at least 25% by 2025. This initiative is part of a broader strategy to eliminate, reduce, and recycle plastics in its packaging. Currently, the company is below sector-average plastic use and aims for a 5% reduction in overall plastic packaging. Mondelēz is investing approximately $300 million from 2019 to 2025 to enhance sustainability, including support for a U.S. Federal recycling scheme that addresses flexible films.
Sargento Foods has launched a new product line, Balanced Breaks Cheese & Crackers Snacks, in partnership with Mondelez International. This offering pairs Sargento's natural cheese with popular snack crackers like RITZ, TRISCUIT, and WHEAT THINS. Available in four flavor combinations, each serving provides 7-9 grams of protein and up to 170 calories.
The products can be found in the refrigerated sections of major retailers and online, enhancing convenience for snacking enthusiasts.
Mondelēz International (Nasdaq: MDLZ) has announced a planned redemption of €500 million of its 1.000% Notes due 2022, €700 million of its 1.625% Notes due 2023, and $500 million of its 2.125% Notes due 2023, along with $492.46 million of its 4.000% Notes due 2024. The redemptions are set for March 31, 2021. Each note will be redeemed at a price equal to either 100% of the principal or the present value of scheduled payments, plus accrued interest. Details on redemption prices will be available on the company's investor website.
Mondelēz International has launched Sustainable Futures, an impact investing platform aimed at supporting self-sustaining ventures that tackle global challenges such as climate change. This initiative is part of the company's commitment to generate a positive impact on people and the planet. The platform will focus on co-investing in projects that protect forests and reduce carbon emissions, with initial support for social ventures in India and South Africa. This move aligns with the company's sustainability strategy and its goal of long-term, meaningful change.
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