Mondelez CEO Dirk Van de Placed on Thursday known as its newest acquisition a "win win" for each firms concerned within the deal.The Oreo-maker int
Mondelez CEO Dirk Van de Placed on Thursday known as its newest acquisition a “win win” for each firms concerned within the deal.
The Oreo-maker introduced Wednesday its acquisition of Chipita, a Greek firm whose croissants and baked snacks helped it generate $580 million in gross sales final yr. The acquisition units Mondelez again about $2 billion, which it plans to fund utilizing new debt issuance and current money available.
“We will use their distribution, their presence to construct our distribution, but additionally to carry our manufacturers to their merchandise,” Van de Put advised CNBC’s Jim Cramer on “Mad Cash.” “Think about a croissant with Cadbury chocolate or Milka chocolate.”
Van De Put mentioned that Chipita’s merchandise, whereas standard principally in Japanese Europe, have potential for progress round the remainder of the globe, notably in rising markets.
“It is an actual win win state of affairs in my view,” he mentioned.
Shares of Mondelez have risen 8% this yr, giving it market worth of $89.2 billion.