Baker McKenzie acted as lead counsel for Mondelēz International, a leading snack foods producer, in its acquisition of a majority interest in Perfect Snacks®, a pioneer in the fast-growing refrigerated nutrition bars segment. The acquisition was completed on July 16. The financial terms of the transaction were not disclosed.
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.
The transaction is expected to create growth opportunities by using the scale and resources of Mondelēz International to expand consumer penetration and U.S. distribution of Perfect Snacks’ products and future innovation.
Partners Olivia Tyrrell and Thomas Hughes led the Baker McKenzie team, which also included: Michelle Carr and Michael Dawes from corporate; Kai Kramer and Ross Staine from tax; Pamela Church, Alysha Preston and Keo Shaw from IP; Victor Flores and Ajay Athavale from executive compensation and benefits; Benjamin Ho, Sofia Chesnokova and Loic Courtelier from employment; Jur Strobos and Mark Goodman from regulatory/compliance; and John Fedele and Daniel Graulich from antitrust.
About Mondelēz InternationalMondelēz International, Inc. (NASDAQ: MDLZ) empowers people to snack right in approximately 150 countries around the world. With 2018 net revenues of approximately $26 billion, MDLZ is leading the future of snacking with iconic global and local brands such as Oreo, belVita and LU biscuits; Cadbury Dairy Milk, Milka and Toblerone chocolate; Sour Patch Kids candy and Trident gum. Mondelēz International is a proud member of the Standard and Poor’s 500, Nasdaq 100 and Dow Jones Sustainability Index. Visit www.mondelezinternational.com or follow the company on Twitter at www.twitter.com/MDLZ.
About Baker McKenzieBaker McKenzie is one of the leading firms for cross-border transactions, providing strategic advice on deals involving the world’s leading financial institutions and multinational companies. From deal inception to business integration, we provide an end-to-end service that helps clients bridge the gap between aspiration and achievement.
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