Mondelez International is to buy the rights to sell Cadbury-branded biscuits from Britain’s Burton’s Biscuit Co in a bid to sell more and combine chocolate and biscuits in new products.
Mondelez, with its global distribution network, would be able to expand the reach of Cadbury Fingers biscuits and accelerate new products.
“The transaction will…enable us to explore delicious new products by using the best of our chocolate and biscuit innovation platforms,” Hubert Weber, head of Mondelez Europe, said.
Under the deal, U.S.-based Mondelez will have the right to make, market and sell Cadbury biscuits around the world, though the biscuits will continue to be manufactured in Burton’s factories under a co-manufacturing agreement.
Financial terms were not disclosed, but a July news report said Mondelez had offered Burton’s about 200 million pounds ($259.4 million).
Burton’s, which also makes Jammy Dodgers and Wagon Wheels, has been owned by Ontario Teachers’ Pension Plan of Canada since November 2013. ($1 = 0.7711 pounds)
By Martinne Geller
Cécile Béliot has assumed the role of Bel Group chief executive officer, following the decision to separate the roles of chairman and CEO. The separation of the functions will enable Bel Group to develop in three areas of healthy snacking. Meanwhile, the company’s former CEO, Antoine Fiévet, has had his mandate renewed as chairman of the board.
US Food and Drug Administration (FDA) Commissioner Dr. Robert Califf was grilled by lawmakers during a House Appropriations subcommittee hearing, where he was slammed over the agency’s handling of the escalating infant formula shortage.
Sweegen is ramping up its efforts to reduce sugar across F&B applications while simultaneously tapping into the benefits of using antioxidants and bitter blocking technology. Speaking to FoodIngredientsFirst, Casey McCormick, vice president of global innovation at Sweegen, says product developers can find a broad range of solutions in Sweegen’s nature-based sweetener systems as brands elevate better-for-you foods.