US multinational Mondelez this week finalized a roughly 1.6-billlion-euro deal whereby it will purchase Greece-based baked goods and snacks Chipita, one of the biggest local brand-names in southeast Europe.
The president and CEO of the Chicago-based concern, a producer of confectionery, foodstuffs, beverages and snack food, Dirk Van de Put, welcomed Chipita to Mondelez stable, saying the move is part of the latter’s strategy to become a global leader in the specific sector.
The acquisition of Chipita follows similar recent buyouts in other countries: Grenade in the UK; Gourmet Food Holdings in Australia, and Hu in the United States.
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