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Mondelēz finalizes USD2bn acquisition of Chipita

Chipita has officially passed into the hands of Mondelēz International, in a transaction worth USD2bn initially announced in May 2021. With the move, Mondelēz is solidifying its position in Europe and the Middle East.

Headquartered in Greece, Chipita had revenues of USD580 million in 2020. The company employs a staff of around 5,100 working in 13 factories. Its products are distributed in 56 countries.

Joining Mondelēz opens up the innovation potential for Chipita, and adds powerful brands to the global portfolio, such as the Chipita Global S.A croissant and baked snack brands like 7Days.

The new interim CEO, Ivo Naydenov, said, “I have long admired Chipita and am excited about working together with our new colleagues to deliver innovation and great new product combinations. Embarking on this relationship together brings the opportunity to both learn from each other and grow together, creating new prospects for our people and brands. But we know that change can mean uncertainty and challenge, as well as opportunity, which is why we remain focused on our people first and are committed to bringing Chipita Global S.A. into Mondelēz International in a thoughtful, responsible and caring way.”