[ad_1]
Mondelez CEO Dirk Van de Placed on Thursday known as its newest acquisition a “win win” for each corporations concerned within the deal.
The Oreo-maker introduced Wednesday its acquisition of Chipita, a Greek firm whose croissants and baked snacks helped it generate $580 million in gross sales final yr. The acquisition units Mondelez again about $2 billion, which it plans to fund utilizing new debt issuance and present money available.
“We are able to use their distribution, their presence to construct our distribution, but additionally to deliver our manufacturers to their merchandise,” Van de Put informed CNBC’s Jim Cramer on “Mad Cash.” “Think about a croissant with Cadbury chocolate or Milka chocolate.”
Van De Put stated that Chipita’s merchandise, whereas common largely in Jap Europe, have potential for progress round the remainder of the globe, significantly in rising markets.
“It is an actual win win state of affairs for my part,” he stated.
Shares of Mondelez have risen 8% this yr, giving it market worth of $89.2 billion.
[ad_2]
Source link