IBIE - 2022 Special Edition & Show Preview - 82

under new
OWNERSHIP
Baking and snack companies seek new opportunities
through mergers and acquisitions.
by Eric Schroeder, Milling & Baking News
WHILE THE BIGGEST NEWS to rock the grain-based
foods industry since IBIE 2019 has to be the coronavirus
pandemic and the subsequent disruptions
to the supply chain, it's important to note that the
industry's biggest baking and snacking companies
did not just go into hiding over the past three years.
In fact, the number of potentially game-changing
mergers and acquisitions has been impressive.
One such transaction came to light shortly after
Aspire
Bakeries
will focus on
core brands
including Otis
Spunkmeyer.
IBIE 2019 and just before the onset of the pandemic
- Hostess Brands, Inc.'s $320 million acquisition
of Voortman Cookies Ltd. It seems like a lifetime
ago that the transaction was announced, but in
just three short years Lenexa, Kan.-based Hostess
has used Voortman's to further diversify its product
portfolio while
at the same time
creating meaningful
growth opportunities
and compelling financial
benefits. The deal
for Voortman's opened
the door to Hostess
into the adjacent wafer
and cookie segments.
It also has spurred innovation,
including the
2021 launch of Cr!spy
Minis. The Hostessbranded
bite-size wafer
cookies have helped
the company build
out its convenience
snacking platform.
82 | INSIDE IBIE
Another move that took place around the same
time was Mexico City-based Grupo Bimbo SAB de
CV's acquisition of Lender's Bagels from Conagra
Brands, Inc. Lender's Bagels history dates to 1927,
when Harry Lender started the New York Bagel
Bakery in the family garage in New Haven, Conn.
The business would eventually be owned by Kraft
Foods, Kellogg Company, Aurora and Pinnacle
Foods. Under Grupo Bimbo's ownership, Lender's
earlier this year relaunched with new recipes and
flavors, refreshed packaging, and its first-ever
social media advertising campaign.
Mondelez makes moves
Mondelez International, Inc., Chicago, has been
an active acquirer in recent years, beginning with
the 2020 acquisition of Give & Go Prepared Foods
Corp., an in-store bakery company, from Thomas
H. Lee Partners, LP. The acquisition gave Mondelez
a producer of fully finished, sweet baked foods
under such brands as Two-Bite, Create A Treat,
Mason St. Bakehouse, Kimberley's Bakeshoppe
and The Worthy Crumb Pastry. In 2021, Mondelez
added to its portfolio with deals for Grenade, a
maker of protein-centric bars, spreads, shakes
and cookies that is headquartered in the United
Kingdom; Gourmet Food Holdings Pty Ltd.,
Melbourne, Australia, a maker of biscuits and
crackers; and Hu Master Holdings, the parent
company of Hu Products, a maker of wellnessfocused
vegan and paleo-friendly snacks. Perhaps
the company's biggest acquisition in 2021, though,
was the purchase of Chipita SA, a rapidly growing
global baker of packaged cakes and pastries.
Aspire Bakeries
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