Mondelēz acquires Tate’s Bake Shop
Image: Tate’s Bake Shop
Mondelēz International has announced it has completed its acquisition of Tate’s Bake Shop, a premium cookie and baked goods brand.
Tate’s Bake Shop is set to operate as a separate standalone business under its current management team to “nurture its entrepreneurial spirit” and “maintain the authenticity of the brand”.
In a statement, Mondelēz said that Tate’s will “benefit from the unparalleled distribution channels and sales and marketing capabilities of Mondelēz International to extend its popular treats to more consumers and build upon a strong track record of profitable growth”.
Dirk Can de Put, Chairman and Chief Executive Officer at Mondelēz, commented: “The Tate’s Bake Shop acquisition represents the type of bolt-on transaction that will leverage our strengths and drive growth and value for our shareholders.
“Tate’s on-trend products complement our existing biscuits portfolio and provide access into the fast-growing premium cookie segment. We‘re excited to begin working with the Tate’s team to expand the reach of this beloved authentic brand to more consumers around the world.”