Corporate Profiles - 2021 - 96

COMPANY OVERVIEW
Mondelez International, Inc.
Sets sights on cakes and pastries, better-for-you snacks
M
ondelez International, Inc. is moving to
become a major player in the cakes and
pastries market. At the same time, the
Chicago-based company is expanding its reach
in well-being-focused snacks.
Following its acquisition of in-store bakery
supplier Give & Go Prepared Foods Corp. in
2020, the company in May announced plans to
acquire Chipita, a baker of cakes and croissants
based in Europe, for $850 million. The two deals
have positioned Mondelez to become the third
largest cake company in the world, said Dirk Van
de Put, chairman and chief executive officer, in a
July 27 conference call with analysts.
" This is a $65 billion category, growing at or
above the rate of our core snacks categories, "
he said. " It also has attractive profitability. Both
cakes and pastries typically have a higher net
revenue per kilogram than cookies. It is a close
adjacency to our core biscuit capabilities, and it
is a fragmented category, which provides a clear
opportunity for a company with the right brands
and capabilities to gain a leadership position. "
Mondelez also expanded its snacking portfolio
into active and nutrition products, acquiring a majority
interest in Grenade, a United Kingdom-based
maker of protein-centric snacks, and Perfect Bar,
a manufacturer of nut-butter-based protein bites.
Other acquisitions that reflect the company's
focus on well-being include Hu Master Holdings,
the parent company of Hu Products, a maker of
premium vegan snacks and chocolates made
with simple ingredients, and Gourmet Food
Holdings Pty Ltd., a maker of health-focused
biscuits and crackers based in Australia.
The acquisitions are part of the company's
strategy of growing its well-being line at twice the
growth rate of its core business. Other initiatives
include brand renovations and extensions, such as
the launch of Cadbury Dairy Milk with 30% less
sugar, and the creation of new brands in interesting
well-being areas, Mr. Van de Put said.
" As an example, our SnackFutures innovation
hub has created five brands in segments such as
plant-based upcycled foods, " he said in a May 26
conference call.
Mr. Van de Put said Mondelez's well-being
approach is evolving along four key areas: permissible
indulgence, better-for-you products,
authentic and natural ingredients, and functional
nutrition.
" Permissible indulgence is about the snacks
you know and love but in smaller portions or
by switching to darker chocolate or more permissible
inclusions like fruit or nuts, " he said.
" Better-for-you products have a healthier composition
like gluten-free Oreo or reduced-sugar
candy from The Natural Confectionery Co. in
Australia. In the area of authentic and natural
products, we launched Philadelphia with 100%
natural ingredients in Europe. Functional nutrition
is about products with ingredients that
boost your health, like the vitamins and minerals
in Bournvita in India. "
As the company moves toward becoming a
leader in cakes and pastries while growing its
reach in well-being-focused snacks, Mondelez
placed its gum business under strategic review.
The company's gum brands were struggling before
the pandemic but saw double-digit sales
declines in the first quarter of fiscal 2021 as the
COVID-19 pandemic continued to limit on-thego
consumption opportunities.
For the six months ended June 30, Mondelez
net income was $2 billion, or $1.45 per share on
the common stock, up 59% from $1.3 billion, or
89ยข. Sales were $13.9 billion, up 10%. CP
Chief executive officer -
Dirk Van de Put
Mondelez International, Inc.
net earnings
Mondelez International, Inc.
net revenues
Mondelez share price
per share
$3,317
2018
$3,929
2019
$3,555
2020
$25,938
$25,868
$26,581
$48
$53
$58
$63
$68
2018
2019
2020
Oct.
2020
Dec.
Feb.
2021
Apr.
June
Aug.
96 \ October 2021
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Corporate Profiles - 2021

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