Mondelez International, Inc. completed the acquisition of Chipita S.A.
January 02, 2022
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Mondelez International, Inc. (NasdaqGS:MDLZ) entered into an agreement to acquire Chipita S.A. for 1.7 billion on May 26, 2021. Mondelez International plans to fund the purchase price, which is subject to certain closing purchase price adjustments, through a combination of new debt issuance and existing cash. Mondelez International Holdings Netherlands B.V. subsidiary of Mondelez International, Inc. (NasdaqGS:MDLZ) launched an offering of 300 million of which proceeds will be used to fund the acquisition. Chipita S.A. generated approximately 474.15 million of revenue in 2020. The transaction excludes Nikas S.A., a meat-processing business, and Chipita's minority interest in its Indian joint venture. The transaction is subject to relevant antitrust approvals, regulatory approvals and closing conditions. As on September 2, 2021, The Antimonopoly Committee of Ukraine approved the transaction. The transaction is expected to close in the next nine months. Mondelez International expects the transaction to be immediately accretive to earnings per share from closing. The transaction has been filed for approval in the EU. The EU merger watchdog has set November 24, 2021 as a provisional deadline for a ruling on the deal.
Centerview Partners LLC acted as financial advisor and Yordan Naydenov of Borislav Boyanov & Co acted as legal advisor for Mondelez International, Inc. Paul Strecker, Jordan Altman, Simon Letherman, James Webber, Alex Bevan, Emma Maconick, Sam Whitaker, Michael Scargill, Richard Porter and Michael Ward of Shearman & Sterling acted as legal advisor and N M Rothschild & Sons Limited acted as financial advisor to Chipita S.A. on the sale.
Mondelez International, Inc. (NasdaqGS:MDLZ) completed the acquisition of Chipita S.A. on January 3, 2022.
Mondelez International, Inc. is one of the world's leading food processing groups. Net sales break down by family of products as follows:
- cookies and snacks (48.9%): Barni, belVita, Chips Ahoy, Club Social, Enjoy Life Foods, Honey Maid, Kinh Do, LU, Oreo, Prince, Ritz, Tate's Bake Shop, Tiger, Triscuit, TUC, Wheat Thins, etc. brands;
- chocolates (29.5%): 5 Star, Alpen Gold, Cadbury, Cadbury Dairy Milk, Côte d'Or, Daim, Freia, Hu, Lacta, Marabou, Milka, Toblerone, etc. brands;
- chewing gums and candies (12.3%): Halls, Clorets, Maynards Bassett's, Sour Patch Kids, Stride, etc. brands;
- cheese and grocery products (6%);
- beverages (3.3%): juices, teas and powdered beverages (Tang brand) and malted beverages (Cadbury Bournvita).
At the end of 2023, the group had 148 manufacturing sites worldwide.
Net sales are distributed geographically as follows: the United States (26.6%), North America (4.2%), Europe (35.7%), Asia/Pacific/Middle East/Africa (19.6%) and Latin America (13.9%).