Ever since Dirk Van de Put took over as CEO in November 2017, Mondelez has been moving quickly to bulk up its snacking portfolio through deals mainly in the U.S.
Mondelez purchased premium cookie maker Tate’s Bake Shop, which uses sugar instead of high fructose corn syrup, for about $500 million in 2018. A year later it acquired a majority stake in Perfect Snacks, the manufacturer of organic, non-GMO, nut butter-based protein bars and bites. Earlier in 2021, it purchased premium chocolate brand Hu.
Smaller deals “allow us to remain what we want to be, which is a great snacking company,” Van de Put told Food Dive last year.