Mondelēz International has announced plans to buy Give & Go Prepared Foods Corp., a Toronto-based processor of ready-to-eat sweet baked goods.
Mondelēz is paying $1.2 billion to Give & Go’s owner, private equity firm Thomas H. Lee Partners, according to a report in Bloomberg News. Give & Go markets brands like Two-Bite brownies and Kimberley’s Bakeshoppe cupcakes, mostly for sale in supermarket bakery sections.
Give & Go was founded in 1989 and was bought by Thomas H. Lee Partners from another private equity firm in 2016. Mondelēz said that it will continue to operate Give & Go as a separate business and retain the company’s current senior management in leadership roles.
“Give & Go’s leading position in the large and fast-growing in-store bakery channel gives us a unique opportunity to expand into new, on-trend consumer spaces,” Glen Walter, president, North America, for Mondelēz International, said in a statement.
