Mondelēz International is broadening its snack food portfolio across Australia and New Zealand (ANZ) with the acquisition of Gourmet Food Holdings.
Gourmet Food is the leading manufacturer and distributor of premium entertaining food products. It is one of the fastest growing food businesses in Australia and is the market leader across its core categories.
The acquisition will allow Mondelēz International to enter the fast-growing premium and wellbeing cracker segment and provide an attractive platform to drive its broader biscuit portfolio across ANZ.
Gourmet Food’s market leading brands, include OB finest, Olina’s Bakehouse and Crispbic.
Dirk Van de Put, Chairman and CEO of Mondelēz International, said that Gourmet Food will be a great strategic asset in a very important market.
“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.”
Oliver Flint, current Chief Operating Officer, has been appointed as Gourmet Food’s Managing Director while co-founder and CEO 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.
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.
By Deborah Jackson
Source: c-store.com.au
