Mondelēz International acquires refrigerated nutrition bar brand Perfect Snacks
Mondelēz International has signed an agreement to acquire a majority interest in Perfect Snacks (California), a pioneer in the refrigerated nutrition bar segment with a 2018 net revenue of approximately $70 million.
To maintain the authenticity of the brand, Mondelēz plans to operate Perfect Snacks as a separate business while providing resources to help accelerate growth.
The acquisition is expected to close later this summer. The US refrigerated snacks segment generates $20 billion in annual sales and represents one third of the country’s total snacking market. Within that space, well-being snacks (nutrition bars, packs with nuts and fruits, yogurts and hummus) are the fastest growing segment (+8% a year and net revenue of around $7 billion).
Mondelēz International (2018 net revenue of approximately $26 billion) is also pursuing ambitious projects in the field of sustainability and in particular has announced that by 2025 100% of the cocoa volume needed for its chocolate brands will originate from the Cocoa Life programme.
The programme was launched in 2012 with a commitment to invest $400 million over 10 years to help build a thriving cocoa supply chain by increasing cocoa productivity, building resilience in cocoa-growing communities and preventing deforestation.