Mondelēz concludes acquisition of majority stake in Give & Go

US-based company Mondelēz International has completed the acquisition of a majority stake in Give & Go Prepared Foods.

Financial details of the deal, which was first announced in February, have not been revealed by either company.

Mondelēz used funds affiliated with Thomas H Lee Partners to finance this acquisition.

Mondelēz International North America executive vice-president and president Glen Walter said: “As we continue to establish foundations in fast-growing snacking adjacencies, this is an important acquisition for our company that supports our ambition to lead the future of snacking.

“We look forward to working with the Give & Go management team as they build on their leading position in the large and fast-growing in-store bakery channel.”

Operational since 1989, Give & Go produces cookie and gingerbread house decorating kits. Its brands include Two-bite and the Create-A-Treat.

Give & Go president and CEO Joel Flatt said: “This is a unique opportunity for Give & Go to join the Mondelēz International family and benefit from their capabilities to accelerate innovation, consumer engagement and strategic retail partnerships.

“We had a very successful partnership with THL and thank them for their support over the last three-and-a-half years.”

Following the completion of the deal, Mondelēz International aims to improve its presence in the wider snacking sector.

The deal will give the Canadian company access to Mondelēz’s consumer and channel insights, procurement, marketing and sales resources, as well as further expand its product footprint across new markets.

Give & Go’s senior leadership team will retain a certain stake in the company and will continue to run the business from their existing headquarters.