Manufacturers of confectionery, biscuits and chocolate, Mondelez International has announced an agreement with Burton's Biscuit Company regarding the acquisition of the license to make, market and sell Cadbury-branded biscuits. The companies have agreed not to disclose the financial terms of the transaction.
"Ownership of the Cadbury-biscuits license offers us exciting opportunities for global growth and innovation, as we expand our leading position in biscuits," said Hubert Weber, Executive Vice President and President of Mondelez Europe. "The transaction will help us to unify and expand our global Cadbury-biscuits portfolio in key markets."
Mondelez International and Burton's Biscuit Company have agreed that the Cadbury-branded biscuits will continue to be manufactured in Burton's factories, by Burton's employees - under a co-manufacturing agreement.
Mondelez International's market currently includes the UK, France, Ireland, North America and Saudi Arabia. The American company aims to move into the Chinese chocolate market in the near future. Net revenues for 2015 were estimated to be around $30 billion.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Martha Sparrius. To subscribe to ESM: The European Supermarket Magazine, click here.
