Mondelez cash reserves raise questions about next strategic steps
Dirk Van de Put's appetite for acquisitions is growing as cash piles up at Mondelez International. The giant snack-maker had $3.6 billion in cash as of Dec. 31, triple the amount it had a year earlier. Cash is pouring in as consumers riding out the pandemic at home rediscover Oreos, Ritz crackers and other childhood favorites. Chicago-based Mondelez is generating even more cash from selling off its stakes in ancillary businesses to focus on cookies and chocolate. Earlier "Last year, it was a remarkable year in terms of cash flow," CFO Luca Zaramella told an investor conference in December. "H...
Source: chicagobusiness.com