The Strategist

Mondelez to pay $1.2B for Give & Go

02/26/2020 - 10:53

American Corporation Mondelez International Inc. is buying baking maker Give & Go, the company said in a press release.

Stephen McKay
Stephen McKay
"Today, Mondelez International announced a signed agreement to acquire a significant majority stake in Give & Go from Thomas H. Lee Partners, L.P. (THL)," the statement said.

According to Bloomberg, the deal is worth $ 1.2 billion. The transaction is expected to be completed in the second quarter of 2020 after approval by regulators.

Mondelez notes that once the transaction is completed, Give & Go management will retain a minority stake in the company and continue to conduct business from its existing headquarters. All Give & Go products will continue to be manufactured at their current production sites.

Mondelez International is one of the world's largest manufacturers of confectionery and food products, with its headquarters in Illinois (USA). Mondelez was formed in 2012 after the division of Kraft Foods Inc. into two companies. The manufacturer operates in approximately 160 countries. Among the company's brands are Alpen Gold and Milka chocolate, Oreo cookies, Dirol chewing gum.

Give & Go Prepared Foods Corp is a Canadian manufacturer of frozen baked goods. It produces a wide range of desserts and pastries, which are sold to leading retailers and catering operators in Canada, the USA, Mexico, Europe, Australia and Japan.