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A-Brands

Mondelēz To Reopen War-Damaged Potato-Chip Plant In Ukraine

Mondelēz International plans to reopen a potato-chip plant on the outskirts of Kyiv, which was closed following Russia's invasion of Ukraine, a spokeswoman said.

The Oreo cookie maker will continue making repairs on the factory, which sustained serious damage in March, as it resumes production, she said in an email.

The plant, in Vyshhorod, makes the local brand of potato chip called Lyuks. Mondelēz's biscuit factory in Trostyanets, in the eastern region of Ukraine, remains closed after it suffered "significant damage."

Impact On Performance

Chicago-based Mondelēz International flagged in earnings releases that the impact of the war in Ukraine war on global commodities including wheat and oil will dent its annual profits by 3 cents per share and reduce its sales by $200 million.

The company, which owns the Cadbury brand, said it recorded $75 million in property, plant and equipment impairments from the war.

Facing pressure to exit Russia, the maker of Milka chocolates scaled back 'non-essential operations' in the country in early March. At the time, it said that it would scale back "non-essential activities" there while helping maintain food supply.

Last week, Mondelēz International Inc announced plans to buy energy bar maker Clif Bar & Company for $2.9 billion (€2.75 billion) to expand its global snack bar business. It marks the ninth deal since 2018 as Mondelēz works towards reshaping its portfolio for higher long-term growth. It recently announced plans to sell its chewing gum business.

News by Reuters, additional reporting by ESM – your source for the latest A-Brands news. Click subscribe to sign up to ESM: European Supermarket Magazine.

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