Sector News

Mondelez to acquire refrigerated snack bar company

June 20, 2019
Food & Drink

Get involved in the discussion! Click here to comment on this story

Mondelez International, Inc., is acquiring Perfect Snacks, Sorrento, Valley, Calif., a manufacturer of refrigerated snack bars. Terms of the acquisition were not disclosed.

Products sold by Perfect Snacks include refrigerated protein bars and bites for adults featuring nut butters as well as a line of products for children. The business generated approximately $70 million in sales in 2018, according to Mondelez International.

“Perfect Snacks is an amazing brand, growing fast and a great complement to our existing portfolio that expands our leadership across broader snacking,” said Glen Walter, executive vice-president and president of North America for Mondelez. “Well-being snacks in general, and refrigerated well-being snacks in particular, are a fast-growing segment and we look forward to working with and supporting the Keith family to help accelerate this brand’s great momentum.”

Chocolate Walnut Brownie Perfect BarMondelez International said it plans to operate Perfect Snacks as a separate business in order to “nurture its entrepreneurial spirit.”

“We believe Mondelez International’s purpose, to ‘empower people to snack right’, aligns very well with why we started this brand and this business,” said Bill Keith, co-founder and chief executive officer of Perfect Snacks. “We look forward to the great opportunity for Perfect Snacks to continue to grow and innovate as part of Mondelez International.”

In April, Mondelez International took a minority stake in Hu Products and Hu Kitchen, New York, a snack company that manufactures clean label, paleo-inspired products. In March, the snack maker also took a minority stake in Uplift Food, an early-stage start-up focused on prebiotic functional foods.

By Keith Nunes

Source: Food Business News

Join the discussion!

Your email address will not be published. Required fields are marked *

Related News

November 13, 2019

Unlocking the $1.2 trillion global snacking opportunity

Food & Drink

LinkedIn Twitter FacebookThe average adult eats more snacks than meals on a given day, according to the first-ever State of Snacking report from Mondelez International, Inc. and The Harris Poll. […]

November 13, 2019

Dean Foods files for bankruptcy after decline in milk consumption

Food & Drink

LinkedIn Twitter FacebookUS milk producer Dean Foods Company has announced it has filed for Chapter 11 bankruptcy protection. The Dallas-headquartered company intends to use the process to support its ongoing […]

November 12, 2019

Plant-based has staying power, study says

Food & Drink

LinkedIn Twitter FacebookInterest in plant-based foods isn’t a passing trend, according to a new report from The NPD Group. The study, called The Future of Plant-based Snapshot, found millennials are […]

Subscribe to our Weekly Newsletter

We're easy to reach