Mondelez International to acquire Greek company Chipita S.A. for USD 2 billion

 

First established in Athens, Greece over 40 years ago, Chipita S.A. generated approximately USD 580 m of revenue in 2020 and has a proven track record of consistent growth from its portfolio of croissant and baked snack brands, including 7Days, Chipicao, and Fineti. It has 13 production plants, among others in Greece (2), Bulgaria, Poland, Romania, Russia, Turkey and Slovakia, with presence in over 50 countries and employs more than 5,100 employees.

A pillar to the company’s decision making has been the development and expansion of confectionary and baked snacks across many markets, driven by innovation and strong manufacturing capabilities. The acquisition will enable the Mondelez International business to offer a broad bakery portfolio - biscuits, cake and now pastry - meeting growing consumer demand for this segment.

“Welcoming Chipita S.A.’s delicious pastry products into the Mondelēz International family advances our strategy to become the global leader in broader snacking,” said Dirk Van de Put, Chairman & CEO of Mondelez International. “Their iconic brands and significant scale across so many attractive geographies make them a strong strategic complement to our existing portfolio and future growth ambitions in Europe and beyond.”