Mondelez to Acquire Italy’s Vitasnella Snack Unit From Danone
Danone, based in Paris, will retain the Vitasnella name and dairy products business, Stefano Robba, a Mondelez spokesman, said in an e-mail. Terms weren’t disclosed.
Mondelez, following its separation from Kraft’s North American grocery enterprise, is adding new offerings to go alongside its Oreo cookies and Cadbury chocolates. The company split up to help the snacks business push products into emerging markets while the slower-growing, higher-margin grocery business returns cash to shareholders.
“This deal fits well into the recently announced spin-off and relevant launch of a global snacking company, Mondelez International,” said Robba.
Reuters earlier reported on the deal.
To contact the reporter on this story: Ari Altstedter in Toronto at firstname.lastname@example.org
To contact the editor responsible for this story:
Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.