Mondelēz acquires majority stake in Perfect Snacks

Global snack food producer Mondelēz International has completed the acquisition of a majority stake in refrigerated nutrition bars maker Perfect Snacks.

The acquired firm’s offerings include Perfect Bar and The Original Refrigerated Protein Bar. It also produces organic, non-GMO, nut-butter based protein bars and bites.

In order to maintain the authenticity of the brand, Mondelēz will operate Perfect Snacks as a separate business entity.

Mondelēz said that it will provide the required resources to Perfect Snacks to help expand its consumer base and distribution network in the US.

Mondelēz International North America executive vice-president and president Glen Walter said: “The Perfect Snacks majority acquisition further expands our leadership position in broader snacking, including the fast-growing segments of well-being and refrigerated snacking.

“We are excited to begin working with and supporting the Keith family to accelerate the brand’s next chapter of growth as part of our existing portfolio of global and local brands.”

Financial details of the deal were not disclosed.

Mondelēz expects the deal to further enhance its portfolio of global and local brands, which include Oreo, Cadbury, Milka and belVita.

Last month, Mondelēz signed an agreement to acquire a majority stake in refrigerated nutrition bars maker Perfect Snacks.

Perfect Snacks offers fresh-from-the-fridge protein food.

Its offerings include the Original Refrigerated Protein Bar, Perfect Snacks’ organic, non-GMO, nut-butter based protein bars and bites.

At the time of signing the agreement, Perfect Snacks co-founder and CEO Bill Keith said: “We are so excited to be joining the Mondelēz International family.

“We believe Mondelēz International’s purpose, to ‘empower people to snack right’, aligns very well with why we started this brand and this business. We look forward to the great opportunity for Perfect Snacks to continue to grow and innovate as part of Mondelēz International.”