Mondelez: to take majority stake in Evirth

(CercleFinance.com) - Mondelez announces that it has signed an agreement to acquire a significant majority stake in Evirth, a Chinese manufacturer of cakes and pastries, subject to customary conditions, including regulatory approval.


It already holds a minority stake in Evirth to develop, manufacture and supply frozen-to-refrigerated cakes and pastries in China, under some of its iconic brands, such as Oreo and Philadelphia.

Founded in 2013, Evirth is a leader in the frozen-to-refrigerated cakes and pastries business in China, a category currently valued at $3bn, with an average annual growth rate of around 15%.


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