Mondelez: buys premium cookie brand Tate's
(CercleFinance.com) - Mondelez has agreed with private equity firm The Riverside Company to acquire premium cookie brand Tate's Bake Shop for approximately 500 million dollars, the US company said on Monday.
The deal will allow Mondelez to enter into the fast-growing premium cookie segment, the Oreo maker said.
"Known for its signature thin-and-crispy cookies with simple, authentic, high-quality ingredients, Tate's is a fast-growing, premium cookie and baked goods brand," it explained.
Founded in 2000 on Long Island, New York, Tate's has been one of the fastest growing biscuit brands in the United States, posting sales that have quadrupled over the past five years.
The acquisition is expected to close during the summer of 2018.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The deal will allow Mondelez to enter into the fast-growing premium cookie segment, the Oreo maker said.
"Known for its signature thin-and-crispy cookies with simple, authentic, high-quality ingredients, Tate's is a fast-growing, premium cookie and baked goods brand," it explained.
Founded in 2000 on Long Island, New York, Tate's has been one of the fastest growing biscuit brands in the United States, posting sales that have quadrupled over the past five years.
The acquisition is expected to close during the summer of 2018.
Copyright (c) 2018 CercleFinance.com. All rights reserved.