Mondelez International acquires majority stake in Perfect Snacks
Fresh-from-the-fridge protein snacks further expands company’s leadership in broader snacking
Mondelēz International announced an agreement to acquire a majority interest in Perfect Snacks, a pioneer in the fast-growing refrigerated nutrition bars segment. With increased distribution in US retailers, the Perfect Snacks product range has recently expanded from the original Perfect Bar to include products such as Perfect Kids Refrigerated Snack Bars and Perfect Bites Refrigerated Protein Snacks. In 2018, Perfect Snacks generated approximately $70 million in net revenue.
Mondelēz believes the firm’s range of nut butter-based protein bars and bites are a “great addition” to its portfolio of brands such as Oreo, Cadbury, Milka and Belvita.
“We have a mission to lead the future of snacking by offering the right product, for the right moment, made the right way”, said Glen Walter, executive vice president and president, North America, for Mondelēz International. “Perfect Snacks is an amazing brand, growing fast and a great complement to our existing portfolio that expands our leadership across broader snacking”.
The U.S. refrigerated snacks segment generates $20 billion in annual sales and represents one third of the total U.S. snacking market. Within that space, well-being snacks, which includes nutrition bars, packs with nuts and fruits, yogurts as well as hummus, represent around $7 billion and is growing faster than other refrigerated snacks at around 8 percent a year over the past three years.
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