Mondelēz International acquires Gourmet Food Holdings
The US multinational snack food company said the move provided a strategic opportunity as it looks to break into the premium biscuit and cracker category. Terms of the deal were not disclosed.
Gourmet Food’s brands, including OB finest, Olina’s Bakehouse and Crispbic, have grown to become one of the category leaders in the premium crackers and biscuits segments throughout Australia and New Zealand.
“With fast-growing premium and wellbeing products, strong customer relationships and agile, local manufacturing, these brands will be a great complement to our local portfolio,” said Maurizio Brusadelli, Mondelēz International’s EVP and President of the Asia Pacific, Middle East and Africa regions.
Gourmet Foods’ current Chief Operating Officer Oliver Flint has been appointed as the company’s managing director while co-founder and CEO Todd Wilson will remain with the business as an advisor.
Mondelēz International said it 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.
The transaction is expected to close in April.
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