Mondelez International closes deal to acquire Chipita Global

Mondelez International today announces that it has completed the acquisition of Chipita Global, a leader in the Central and Eastern European croissants and baked snacks category.

The acquisition will enable Mondelez International to offer a broad bakery portfolio in Europe, meeting growing consumer demand for this segment. It also brings together Mondelez International brands such as Cadbury and Milka, with Chipita Global croissant and baked snack brands like 7Days. Chipita’s products are already reaching two billion consumers across more than 50 countries.

From today, an interim management team will be put in place to manage the Chipita operations and support the integration process, which will take place in 2022.  The interim management team, which is a blend of Mondelez International and existing Chipita Global leaders, will be led by Ivo Naydenov, who has been with Mondelez International for nearly 20 years and has worked extensively across southeast Europe.

New interim CEO, Ivo Naydenov, said: “I have long admired Chipita and am excited about working together with our new colleagues to support innovation and great new product combinations, which this makes possible. Embarking on this relationship together brings the opportunity to both learn from each other but also grow together, creating new prospects for our people and brands. We plan to bring Chipita Global S.A. into Mondelez International in a thoughtful, responsible and caring way, respecting the great business that has been built by its people over the last 40 years.”