Mondelēz International has announced that it has completed the acquisition of a majority stake in the refrigerated snack bar business, Perfect Snacks.
The brand's product portfolio includes Perfect Bar, The Original Refrigerated Protein Bar, and Perfect Snacks, as well as other lines of organic, non-GMO, nut-butter based protein bars and bites.
Executive vice-president and president of Mondelēz International's North American unit, Glen Walter, said, "The Perfect Snacks majority acquisition further expands our leadership position in broader snacking, including the fast-growing segments of well-being and refrigerated snacking."
Perfect Snacks will operate as a separate business to retain authenticity and nurture its entrepreneurial spirit, Mondelēz said in a statement.
The Oreo Cookies maker will provide the resources to help expand Perfect Snacks' consumer penetration and distribution in the US.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.