Mondelez International has announced the acquisition of Enjoy Life Foods, a US-based leader in the emerging 'free-from' segment.
Following the acquisition, Enjoy Life Foods will continue to be lead by Scott Mandell, CEO and founder of the company, and will operate as a separate, wholly owned subsidiary.
The transaction was a simultaneous sign-and-close deal. Financial terms were not revealed.
"As we focus on continuing to drive growth in snacking, the acquisition of Enjoy Life Foods is a great strategic fit for us," said Mark Clouse, Chief Growth Officer at Mondelez International.
"The Enjoy Life brand expands our portfolio into faster growing, on-trend, 'better-for-you' areas and provides an excellent platform to make these delicious offerings available to consumers with 'free-from' needs or simply looking for healthy-lifestyle options, both in the United States and beyond."
Enjoy Life Foods boasts a range of more than 40 products, including cookies, chocolate, snack bars, and savory snacks that are allergy-friendly and gluten-free. Its products are free from the eight most common allergens - wheat, dairy, peanuts, tree nuts, egg, soy, fish and shellfish - which together account for about 90 percent of all food allergies.
© 2015 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones.
