Mondelez CEO calls $2 billion Chipita acquisition a win for both companies

Business News

In this article

Mondelez CEO Dirk Van de Put on Thursday called its latest acquisition a “win win” for both companies involved in the deal.

The Oreo-maker announced Wednesday its acquisition of Chipita, a Greek company whose croissants and baked snacks helped it generate $580 million in sales last year. The purchase sets Mondelez back about $2 billion, which it plans to fund using new debt issuance and existing cash on hand.

You Might Like

“We can use their distribution, their presence to build our distribution, but also to bring our brands to their products,” Van de Put told CNBC’s Jim Cramer on “Mad Money.” “Imagine a croissant with Cadbury chocolate or Milka chocolate.”

Van De Put said that Chipita’s products, while popular mostly in Eastern Europe, have potential for growth around the rest of the globe, particularly in emerging markets.

“It’s a real win win situation in my opinion,” he said.

Shares of Mondelez have risen 8% this year, giving it market value of $89.2 billion.

Questions for Cramer?
Call Cramer: 1-800-743-CNBC

Want to take a deep dive into Cramer’s world? Hit him up!
Mad Money TwitterJim Cramer TwitterFacebookInstagram

Questions, comments, suggestions for the “Mad Money” website? madcap@cnbc.com

Articles You May Like

Google Fires 50 Pro-Palestinian Employees Protesting Company Contract with Israel, CEO says company is “No Place for Politics”
Thanks To One Dissenter, The Mask Drops At NPR
NASA’s longest-running spacecraft back in touch with Earth after five months of silence
Be It Ever So Humble … : Supreme Court to Decide If City May Ban Sleeping in Public
CEO warns left-wing college students they’re ‘breathing the vapors of a dangerous new, fake, and self-destructive religion’

Leave a Reply

Your email address will not be published. Required fields are marked *