IBIE - 2022 Special Edition & Show Preview - 83

MERGERS & ACQUISTIONS
Dirk Van de Put, chairman and chief executive
officer of Mondelez, said at the time of the
acquisition that Chipita falls squarely within
the Mondelez strategy of growing in the global
snacking business.
" Their iconic brands and significant scale across
so many attractive geographies make them a
strong strategic complement to our existing
portfolio and future growth ambitions in Europe
and beyond, " Mr. Van de Put said.
The number of potentially
game-changing mergers
and acquisitions has been
impressive.
Mondelez's most recent transaction was
the $1.3 billion acquisition of the Ricolino
confectionery business of Grupo Bimbo SAB de
CV. Announced in April 2022, the acquisition of
Ricolino would double the size of Mondelez's
business in Mexico and provide an attractive
entry point into the chocolate category, while
expanding the company's presence in snacking,
the company said.
Utz goes public
Utz Brands, Inc., Hanover, Pa, was formed in mid2020
following an agreement between special
purpose acquisition company Collier Creek
Holdings and Utz Quality Foods, LLC. Founded
in 1921, Utz produces a full line of products,
including potato chips, pretzels, cheese snacks,
corn chips, tortillas, veggie stix/straws, popcorn,
onion rings, pork skins and more. Its brands
include Utz, Golden Flake, Zapp's, " Dirty " Potato
Chips, Good Health, Snikiddy, Boulder Canyon,
TGI Fridays Snacks and Bachman.
Utz in recent years has broadened its portfolio
through the acquisitions of Kitchen Cooked,
Inc., a Farmington, Ill.-based manufacturer and
distributor of snack foods; Conagra Brands, Inc.'s
direct-store delivery snacks business, which
includes the Tim's Cascade Snacks, Hawaiian
Snacks, Erin's, El Restaurante, Snyder's of Berlin,
Pop-N-Thin and Husman's brands; the Vitner's
snack brand from Snak-King Corp.; Festida Foods,
a co-packer of tortilla and corn chips; and RW
Garcia, a manufacturer of organic tortilla chips,
crackers and corn chips.
INSIDE IBIE | 83
Big baking deals
Two big baking deals involved the former Aryzta
North America and Weston Foods businesses.
In the spring of 2021, private equity firm Lindsay
Goldberg spent $850 million to acquire Aryzta
North America. Following the transaction, the
business was renamed Aspire Bakeries, a decision
that reflects the company's aim to " continue to
move upwards. "
Aspire Bakeries, Los Angeles, said its strategies
will remain the same, with a continued focus
on its three core brands - La Brea Bakery, Otis
Spunkmeyer and Oakrun Farm Bakery - as well
as on quick-service restaurants, foodservice and
retail in-store bakeries.
" Our brands established our North American
business as a leader in baked goods, as they all
have strong, long-standing reputations of providing
customers with delectable foods across
the artisan bread and baked goods categories, "
said Tyson Yu, chief executive officer of Aspire
Bakeries, in May 2021. " Aspire Bakeries will execute
a business strategy that focuses on continued innovation
and growth across our beloved brands. "
About six months later, FGF Brands, Inc.,
FGF Brands, Inc.,
acquired Weston
Foods, maker
of well-known
brands including
Country Harvest.
FGF Brands
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