Mondelēz International has announced an agreement to acquire a significant majority interest in Give & Go, a North American manufacturer of sweet baked goods. Give & Go is being sold by funds affiliated with Thomas H. Lee Partners, L.P.

Because Give & Go has a leading position in brownies, cupcakes, pastries, and muffins, as well as access to the fast-growing in-store bakery channel, its acquisition expands Mondelēz’s leadership in broader snacking. Founded in 1989, Give & Go’s products are a complementary addition to Mondelēz’s portfolio of global and local brands such as Oreo, Cadbury, Milka, and belVita, as well as Tate’s Bake Shop and Perfect Snacks.

As with other recent acquisitions, such as Perfect Snacks, Mondelēz will operate Give & Go separately in order to nurture its entrepreneurial spirit while providing access to consumer and channel insights, procurement, and marketing resources to accelerate growth. After the deal closes, Give & Go’s senior leadership team will retain a minority interest in the company and continue to run the business from the existing headquarters. All Give & Go products will continue to be made at their current manufacturing locations.

The transaction is subject to customary closing conditions and expected to close in the second quarter of 2020.

In other news, Mondelēz has announced a renewed commitment to reduce environmental impact and drive sustainable growth at scale, by joining the Science Based Targets initiative (SBTi) and setting greenhouse gas emissions reduction targets consistent with requirements to keep global warming well below 2℃.

Already on track to reduce emissions across its manufacturing operations by 15% by the end of 2020, this expanded commitment will result in a further 10% emissions reduction across Mondelēz’s value chain by 2025, compared to a 2018 baseline. The announcement follows Mondelēz International Chairman and Chief Executive Officer Dirk Van de Put’s signing of the United for Paris Agreement in December 2019.

Mondelēz’s 2025 sustainability goals are focused on making snacks with less energy, water, and waste. These goals are based on an end-to-end, science-based approach to reducing the company’s carbon footprint, including reducing absolute carbon dioxide emissions from manufacturing and addressing deforestation in key raw material supply chains. The science-based approach goes beyond company-owned operations and now includes the end-to-end carbon footprint, including operations outside of the company’s direct control, such as farms producing raw materials, as well as the production, use, and disposal of packaging materials.

Acquisition press release

Sustainability press release

More News right arrow

Common food additive may cause adverse health effects in mice

A common food additive, recently banned in France but allowed in the United States and many other countries, was found to significantly alter gut microbiota in mice, causing inflammation in the colon and changes in protein expression in the liver, according to research published in Small.

Silver Spring Foods expands capacity to meet horseradish demand

Silver Spring Foods, a subsidiary of Huntsinger Farms, a grower and processor of horseradish, has made several business moves in the last three months to position the company for the future.

Nestlé Health Science to acquire a majority stake in Vital Proteins

Nestlé Health Science has agreed to acquire a majority stake in Vital Proteins, a U.S. collagen brand and a lifestyle and wellness platform offering supplements, beverages, and food products.

Fat replacer from Epogee achieves additional GRAS approvals

EPG, an alternative fat from Epogee, has received GRAS approval for several additional product categories, the company announced.

Singapore approves SweeGen’s Bestevia stevia sweeteners Rebs D and E

SweeGen has announced that Singapore Food Agency has approved the use of its Bestevia Rebs D and E stevia sweetener solutions in foods and beverages.

Upcoming Events Listing right arrow

NYIFT Suppliers Day and Career Fair

Secaucus, New Jersey, United States

IFT Weekly Newsletter

Rich in industry news and highlights, the Weekly Newsletter delivers the goods in to your inbox every Wednesday.

Subscribe for free