57.43 +0.41 (0.72%)
After hours: 6:56PM EST
|Bid||57.35 x 1800|
|Ask||58.69 x 1300|
|Day's Range||56.88 - 58.27|
|52 Week Range||46.37 - 59.96|
|Beta (5Y Monthly)||0.75|
|PE Ratio (TTM)||21.52|
|Earnings Date||Apr 27, 2020 - May 03, 2020|
|Forward Dividend & Yield||1.14 (1.97%)|
|Ex-Dividend Date||Mar 29, 2020|
|1y Target Est||63.65|
(Bloomberg) -- Mondelez International Inc. is stocking up on treats with a deal for the Canadian owner of the “two-bite” brownies brand, in a move that pushes further into the bakery industry.The Oreo cookies owner bought a majority interest in Toronto-based Give & Go Prepared Foods Corp. from private equity firm Thomas H. Lee Partners, it said in a statement Tuesday. Mondelez paid about $1.2 billion for Give & Go., people with knowledge of the matter said.Representatives for Mondelez and Thomas H. Lee declined to comment on the terms. The deal is expected to close in the second quarter, according to the statement.“We are passionate about the consumer and this acquisition is very much on trend,” Glen Walter, president of North America for Mondelez, said in an interview. “We are very passionate about the on-the-go snack.”Give & Go’s management will hold a minority stake in the Ontario-based company. Its headquarters will remain in Canada and all of its products will continue to be made at their current locations.Indulgent Food GroupThe Give & Go deal reflects a dual strategy for Mondelez, which like other snack makers is building on the popularity of the indulgent food category while also responding to consumer demand for healthier treats, including vegan options.In July, Mondelez acquired a majority interest in Perfect Snacks, a maker of nut-butter based protein bars. Mondelez’s Cadbury business is developing a plant-based version of its flagship Dairy Milk chocolate brand, The Telegraph reported in February.Mondelez should be able to build on solid distribution that Give & Go brands have in North America to accelerate sales, said Jennifer Bartashus, a Bloomberg Intelligence analyst.“This acquisition is a good fit for Mondelez, because it brings a couple of well-known brands into the overall portfolio in categories that complement the company’s core strength in cookies, crackers and chocolate,” Bartashus said.Most of Give & Go sales fall into categories with stronger growth and margin profiles than some parts of Mondelez’s portfolio such as gum and powdered beverages, she said.Entry PointGive & Go’s scale and high single-digit growth will give Mondelez an entry into the bakery and pastries, Wells Fargo & Co. analysts wrote in a note Tuesday.“Over time we think capabilities exist to extend Mondelez’s existing brands into new formats,” they said.Thomas H. Lee Partners bought Give & Go in 2016 from Omers Private Equity. The bakery acquired Create-A-Treat Ltd., Nafta Foods & Packaging Inc. and Uncle Wally’s Bake Shoppe during the firm’s ownership.Mondelez shares have climbed 21% in the past year. They fell 1.1% to $57.11 at 3:23 p.m. in New York trading Tuesday. The S&P 500 Packaged Foods Index, in which Mondelez has about 30% weighting, was down 1.8%To contact the reporters on this story: Crystal Tse in New York at firstname.lastname@example.org;Deena Shanker in New York at email@example.comTo contact the editors responsible for this story: Liana Baker at firstname.lastname@example.org, ;Sally Bakewell at email@example.com, Michael HythaFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Mondelēz International, maker of Oreo cookies and other household-name products, said it's buying Canadian snack food company Give & Go for a reported $1.2 billion.
(Bloomberg) -- Mondelez International Inc. said it’s buying the Canadian owner of the two-bite brownies brand from the private equity firm Thomas H. Lee Partners.Mondelez is paying $1.2 billion to buy the company, according to people familiar with the matter.Mondelez, confirming an earlier report by Bloomberg News, didn’t provide financial terms in a press release announcing the deal Tuesday.Representatives for Mondelez and Thomas H. Lee declined to comment on the terms.Mondelez said the deal is expected to close in the second quarter of the year.Toronto-based Give & Go Prepared Foods Corp. was founded in 1989 and now has 1,500 employees, according to its website. Its brands include Kimberley’s Bakeshoppe and Mason St. Bakehouse.“We are passionate about the consumer and this acquisition is very much on trend,” said Glen Walter President of North America for Mondelez International in an interview. “We are very passionate about the on-the-go snack.”Thomas H. Lee Partners bought Give & Go in 2016 from Omers Private Equity. Give & Go has since acquired Create-A-Treat Ltd., Nafta Foods & Packaging Inc. and Uncle Wallace’s Bake Shoppe to help build up the company.Confectioneries and bakeries are undergoing a transition as consumers demand healthier products, including vegan options.In July, Mondelez acquired a majority interest in Perfect Snacks, a maker of nut-butter based protein bars. Mondelez’s Cadbury business is developing a plant-based version of its flagship Dairy Milk chocolate brand, The Telegraph reported in February.Mondelez fell less than 1% in early trading Tuesday. The shares have gained 22% in the past year. The S&P 500 Packaged Foods Index, in which Mondelez has about 30% weighting, is up about 18% over the same time period.(Updates shares in last paragraph)To contact the reporters on this story: Crystal Tse in New York at firstname.lastname@example.org;Ed Hammond in New York at email@example.comTo contact the editors responsible for this story: Liana Baker at firstname.lastname@example.org, Michael HythaFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Mondelēz International today announced an agreement to acquire a significant majority interest in Give & Go, a North American leader in fully-finished sweet baked goods and owners of the famous “two-bite”® brand and the “Create-A-Treat”® brand known for cookie and gingerbread house decorating kits. With a leading position in brownies, cupcakes, pastries and muffins, as well as access to the fast-growing in-store bakery channel, the acquisition of Give & Go expands Mondelēz International’s leadership in broader snacking. Founded in 1989, Give & Go’s delicious and on-trend products are a complementary addition to Mondelēz International’s portfolio of global and local brands such as Oreo, Cadbury, Milka and belVita, as well as Tate’s Bake Shop and Perfect Snacks.
We're adding a new, promising performer to our model portfolio -- snack food giant Mondelez International (MDLZ), explains Mike Larson, editor of Weiss ratings' Safe Money Report.
Manchester United (NYSE:MANU) has entered into a global partnership with Mondelēz International (NASDAQ:MDLZ), whose world renowned brands include Cadbury, Oreo, Toblerone, Milka and belVita.
Streetwear brand Supreme is teaming up with Oreo to sell a special edition red cookie that will cost $8 for a pack of three. Oreo, and its parent company Mondelez International Inc (NASDAQ: MDLZ), is embarking in an unusual collaboration with Supreme who normally associates with similar fashion and lifestyle brands, AdAge reported.
Mondelēz International will today discuss the company’s strategic initiatives to deliver sustainable top- and bottom-line growth at the 2020 Consumer Analyst Group of New York (CAGNY) Conference. The company will also reiterate its 2020 financial outlook and long-term growth targets. Chairman and Chief Executive Officer Dirk Van de Put, together with Chief Financial Officer Luca Zaramella, will provide an overview of the company’s strong financial results and plans to drive long-term sales, earnings and free cash flow growth.
(Bloomberg) -- Packaged-foods maker Conagra Brands Inc. cut its sales and earnings forecast, blaming a slowdown at restaurants over the holiday season and subsequent weakness at retailers in January.The Chicago-based company now anticipates organic sales to be flat or to grow only 0.5% in the fiscal year that ends in three months, a reduction from its prior growth forecast of 1% to 1.5%, according toa statement Monday.Conagra said adjusted earnings for the year should amount to $2 to $2.07 a share, worse than its previous $2.07-to-$2.17 prediction. Analysts surveyed by Bloomberg had estimated $2.11 on average.“Consumption softness in the quarter first emerged in the foodservice industry, with holiday restaurant traffic weaker than last year,” Chief Executive Officer Sean Connolly said in the statement. Sales to restaurants and other foodservice establishments accounted for almost 10% of Conagra’s total revenue last year.“Softness pivoted to retail in January and impacted numerous categories across food, including several in which we compete,” the CEO added.Conagra shares have fallen 4.5% since the end of last year after being one of the best performers among consumer-staples companies for the last three months of 2019. While the company didn’t specify where it is seeing weakness, several of its brands are found in the center aisles of grocery stores where foot traffic is declining, including Birds Eye, Healthy Choice, Duncan Hines and Slim Jim.“While we planned for tougher year-over-year comparable results in the third quarter, we did not plan for this level of category softness,” Connolly said.Conagra expects organic sales growth to return in the fiscal fourth quarter, saying it has gained market share in many categories and believes “the recent consumption weakness is abating.” Conagra’s third quarter ends Feb. 23.The company will present at the Consumer Analyst Group of New York (CAGNY) Conference on Tuesday at 9 a.m. local time. In a slides posted ahead of the event, Conagra called the recent weakness an industrywide “air pocket.”“We now question what this could mean for other companies presenting this week,” Rob Dickerson, an analyst at Jefferies LLC, wrote in a research note Monday. “Will the air pocket emerge as a theme across the rest of the food space?”Other companies slated to present at the conference Tuesday include General Mills Inc., Mondelez International Inc. and McCormick & Co.(Adds comments from slides and Jefferies analyst starting in ninth pagraph.)To contact the reporter on this story: Catherine Larkin in Chicago at email@example.comTo contact the editors responsible for this story: Courtney Dentch at firstname.lastname@example.org, Nick Baker, David S. JoachimFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The decision on Friday came after the companies asked the judge to hold the CFTC and two of its commissioners in contempt of court and impose sanctions for breaking a gag order in a $16m settlement announced in August. The CFTC charged Kraft Heinz and Mondelez in 2015 with rigging US grain prices by purchasing massive quantities of Chicago-listed wheat futures.
DEERFIELD, Ill., Feb. 10, 2020 -- Mondelēz International, Inc. announced that Dirk Van de Put, Chairman and CEO, and Luca Zaramella, Chief Financial Officer, will present at.
(Bloomberg) -- The latest victims of climate change could be Oreos, as drenched fields across the U.S. make the wheat that’s a key ingredient a scarcer commodity.Winter-wheat plantings fell to their lowest levels in more than a century as the grain got harder to seed. That was especially true for soft red winter wheat, with sowings in critical states like Illinois slumping 25%. And that might be bad news for snack fans—the variety is used in the flour that forms the base for crackers, biscuits and beloved goodies including Mondelez International Inc.’s Oreos and Kellogg Co.’s Cheez-Its.The warming atmosphere is making the spring planting season a lot wetter and a lot muddier in the Midwest. Last year, things were so bad that record rains meant plantings were done at the slowest pace ever. That’s pressuring farmers to abandon a strategy known as double-cropping—when the same fields get sown in the spring with soybeans and then in the fall with wheat. Forced to choose just one, growers are giving up on wheat.Changing weather patterns are wreaking havoc on traditional agriculture calendars all over the world. The U.S. is in the midst of what some measures are showing as the second-warmest winter in 70 years, prompting fruit plants to bloom weeks early across the South. In Vietnam, earlier-than-normal saline buildup in the Mekong Delta is threatening rice paddies, and timing for precipitation is fluctuating across the globe. That’s on top of other climate threats to food production like Australia’s wildfires and drought in Russia.For America’s breadbasket, record rainfall in the spring of 2019 resulted in unprecedented planting delays that pushed harvests deeper into autumn, when farmers would normally want to sow winter-wheat seeds. “Weather dominated the decision-making process,” said Angie Setzer, vice president of grain at Citizens Elevator in Michigan, where plantings of soft red winter wheat fell 7%, U.S. government data show.Illinois farmer Grant LaForge only managed to plant 75 acres of soft red winter wheat. That’s half of what he had hoped for after he was prevented from double-cropping.“I wish I had more put in,” LaForge said by telephone.Spring in the Midwest has been trending wetter for 100 years, according to Trent Ford, the Illinois State Climatologist, a position under the University of Illinois. Things are getting more acute as the warming climate allows the atmosphere to hold more moisture, which can then be delivered in fiercer and more frequent rain events.“The increased precipitation trends in spring, including June, is a significant feature for our climate,” Ford said.The drop for plantings is reversing historical price trends. Soft red winter wheat is usually less valuable than its hard red cousin, the variety used in bread flour. But with fewer acres, futures for the first type are now trading at a rare and historic premium to the latter.Planting woes aren’t the only threat. With a warmer and wetter weather pattern continuing in the U.S., there are fears the soggy conditions could also mean a increase in fungus growth before harvesting starts around June.Last year, fungus problems lowered crop quality and raised prices for supplies good enough to be used in food. Grain buyers at an elevator in Toledo, Ohio, were paying huge premiums, signaling higher costs for a nearby mill—one of the largest in the country and where Mondelez International grinds wheat into flour to make snacks. On an earnings call last month, Mondelez executives cited unfavorable commodity costs for the first half of this year, adding that supplies are covered for most raw materials in 2020.“We have a high level of protection against the price inflation in wheat and are seeing global supplies remain comfortable,” Mondelez spokesman Tom Armitage said in a statement to Bloomberg. Kellogg in a statement said, “We do not anticipate any impact to our ability to produce foods that include soft red winter wheat.”Luckily for cookie fiends, it takes a lot of commodity-driven inflation before companies generally raise costs for their consumer products. Given that overall American supplies of wheat are still relatively ample, there’s likely a big enough cushion to prevent any major prices spikes for now. That could always change if acres keep shrinking.“The better producers are still raising wheat and can still make money from wheat,” said Phil Needham, agronomist at Needham Ag Technologies LLC in Kentucky. “The bottom segment of the market has been lost.”(Adds company statements.)\--With assistance from Dominic Carey.To contact the author of this story: Michael Hirtzer in Chicago at email@example.comTo contact the editor responsible for this story: James Attwood at firstname.lastname@example.org, Millie MunshiFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
DEERFIELD, Ill., Feb. 06, 2020 -- The Board of Directors of Mondelēz International, Inc. today declared a regular quarterly dividend of $0.285 per share of Class A common.
Let's face it, life is loaded with everyday inconveniences that have the potential to throw you off your game. From paying monthly bills to commuting to work, these everyday moments can have you looking for a way to "chew through" life's little points of tension. To empower consumers to approach these moments with positivity and gumption, TRIDENT gum is stepping in and unveiling their latest campaign, "Chew Through," centered around getting through life's tense moments by providing a bit of fresh, go-to support when it's needed the most.
Europe’s drowsy equity market could be about to get a shot of caffeine. JAB Holdings has taken another step toward the planned initial public offering of its coffee and tea business, which could raise up to $3.3 billion. The private investment firm, which is backed by Germany’s billionaire Reimann family, has enlisted banks BNP Paribas (FR:BNP) and JPMorgan (JPM) to advise it on a potential listing, according to Bloomberg.
If you’re a bear, the escalating coronavirus outbreak lends itself to the argument that the U.S. economy might finally tip into recession and the stock market might finally correct. Don’t bet on that, experts say.