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
Source: Reuters
Danone has appointed three deputy CEOs to “better connect categories and regions” and drive the delivery of its ‘Renew Danone’ strategy. The new appointees are Veronique Penchienati-Bosetta, Shane Grant and Juergen Esser. They will report to Danone CEO Antoine de Saint-Affrique.
PepsiCo Portugal has announced that it will invest €7.5 million to construct a new biodigester, which will turn organic waste into biogas. As well as helping its Carregado facility to achieve a 30% reduction in carbon emissions, the biodigester will also contribute to reducing gas consumption, allowing the installation to use the biogas produced during the anaerobic digestion process.
Kerry is sponsoring The Kerry Upcycled Food Foundation Fellowship in a new partnership with the Upcycled Food Foundation (UFF), the non-profit subsidiary of the Upcycled Food Association (UFA). The research fellowship is the second initiated by the UFF and will work toward advancing the understanding of the market, consumer perception and technical opportunities of upcycled food.