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Mondelez acquires European baked goods company Chipita for $2 billion
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Mondelez (MDLZ) Acquires European Snacking Company, Chipita S A
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Date Time
KWM advises CPE Capital on sale of Gourmet Food Holdings to Mondelez International
King & Wood Mallesons (KWM) has advised long term client CPE Capital on the sale of Gourmet Food Holdings, an Australian premium cracker and chilled seafood manufacturing and distribution business, to Mondelez, a global snack food company.
The KWM team was led by Private Equity Partner Lee Horan, supported by Senior Associate Anthony Boogert, Solicitor Emily Campbell and Law Graduate Iris Lo.
Commenting on the transaction Lee Horan said:
“We are very pleased to have been able to guide CPE Capital on both its investment into Gourmet Foods and ultimate exit which has produced a fantastic outcome for CPE Capital and the other Gourmet Foods shareholders.”
Mondelēz cements cookie and cracker footprint down under with Gourmet Food Holdings acquisition The Oreo maker has snapped up the Australian company – which holds a strong position in the attractive premium biscuit and cracker category – for an undisclosed amount from Sydney-based private equity firm CPE Capital.
Gourmet Food’s brands – which include OB finest, Olina’s Bakehouse and Crispbic – are category leaders in the crackers and biscuits category in Australia and New Zealand, notably setting trend innovations specifically within the health and wellbeing segments.
“With fast-growing premium and wellbeing products, strong customer relationships and agile, local manufacturing, these brands will be a great complement to our local portfolio,” said Maurizio Brusadelli, Mondelēz International’s EVP and president of the Asia Pacific, Middle East and Africa (EMEA) regions.
Asia Digest: Polaris Capital buys Increment P; CPE sells Australian biscuit unit to Mondelez
REUTERS/Yuriko Nakao
March 11, 2021
Polaris Capital Group is acquiring Increment P, a subsidiary of Japan’s Pioneer Corporation, while CPE Capital has agreed to sell Gourmet Food Holdings to US-based food multinational Mondelēz International.
Polaris Capital acquires Increment P
Polaris Capital Group is acquiring Increment P, a subsidiary of Japanese tech conglomerate Pioneer Corporation, for an undisclosed amount, according to an announcement.
Nikkei Asia estimated the deal value at approximately JPY30 billion ($277 million).
Increment P provides map and location services in Japan. Pioneer offers advanced driving support systems for the automobile insurance industry that leverage cloud computing, AI and big data.
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