Mondelēz International Inc. said it has agreed t to acquire Chipita S.A., a high-growth player in the Central and Eastern European croissants and baked snacks category.
Established in Greece more than 40 years ago, Chipita S.A. generated approximately $580 million of revenue in 2020 and has a proven track record of consistent growth from its portfolio of croissant and baked snack brands, including 7Days, Chipicao, and Fineti.
Chipita S.A. has been at the forefront of the development and growth in the sector across multiple countries driven by its strong innovation and manufacturing capabilities.
KEY POINTS
- Strong platform with proven track record of high growth enhances offering in attractive $65B global packaged cakes and pastry category.
- Addition of differentiated brands, including 7Days, adds $580 million of revenue in priority adjacent snacking categories such as croissant and bake rolls.
- Opportunity for shared benefits between Chipita S.A. and Mondelēz International from procurement, manufacturing, and future growth.
- Transaction to be immediately accretive to earnings per share from closing based on comprehensive synergies.
