The US snacks giant has agreed to acquired Aussie snacks company Gourmet Food Holdings
Mondelēz International has entered into an agreement to acquire Gourmet Food Holdings, a leading Australian food company with a strong position in the attractive premium biscuit and cracker category. Terms of the transaction have not been disclosed.
Gourmet Food operates in the market with several brands, including OB finest, Olina’s Bakehouse and Crispbic.
Mondelēz argued that Gourmet Food’s brands have grown to become category leaders in the premium crackers and biscuits segments throughout Australia and New Zealand through on-trend innovations, including health and well-being offerings.
“This is a great strategic asset for us in a very important market,” said Dirk Van de Put, chairman and chief executive of Mondelēz International. “With our iconic biscuit brands such as Oreo and belVita, as well as our leadership in chocolate with Cadbury, this acquisition will accelerate our broader snacking leadership in Australia and New Zealand.”
Chief operating officer Oliver Flint has been appointed as Gourmet Food’s managing director while co-founder and chief executive Todd Wilson will remain with the business as an advisor.
Mondelēz International will provide Gourmet Food with resources to accelerate growth while leveraging its manufacturing, research and development capabilities.
“With fast-growing premium and well-being products, strong customer relationships and agile, local manufacturing, these brands will be a great complement to our local portfolio,” said Maurizio Brusadelli, EVP & President, Asia Pacific, Middle East and Africa, Mondelēz International. “We are excited to welcome Oliver, Todd and the entire Gourmet Food team to our organization.”
Included in the transaction is Gourmet Food’s pre-packaged seafood business including the Ocean Blue brand. There are no closing conditions and the transaction is expected to close in April.
Date published: 10 March 2021