HomeFoodMondelez in discussions to acquire Snackworks

Mondelez in discussions to acquire Snackworks

GAUTENG, SOUTH AFRICA — AVI Ltd. on Nov. 25 confirmed it’s in talks with Chicago-based Mondelez International relating to a possible acquisition of AVI’s Snackworks enterprise.

AVI had hinted at a possible sale of the Snackworks enterprise since September however had not named any potential patrons.

“The company advises shareholders that it has progressed discussions with Mondelez International LLC regarding the potential acquisition of AVI’s Snackworks division,” AVI mentioned.

AVI’s Snackworks division provides a full vary of candy and savory biscuits, baked and fried snacks below the Bakers, Baumann’s, Pyotts, Provita, Baker Street Snacks and Willards manufacturers.

Based in Bryanston, Johannesburg, Snackworks has manufacturing amenities in Isando, Johannesburg; Rosslyn, Pretoria; and Westmead, Durban. The division generated income of roughly $270 million in the yr ended June 30, which equates to about 32% of AVI’s group income.

Mondelez has not commented on a possible acquisition however has been energetic in increasing its snacks enterprise. The firm earlier this yr moved deeper into the worldwide baking enterprise with the acquisition of Chipita SA, a quickly rising world baker of packaged desserts and pastries. Based in Athens, Chipita generated gross sales of about $580 million in 2020. The firm’s merchandise embrace croissants, bagel chips, cake bars, biscuits and spreads offered principally below the 7Days, Chipicao and Fineti manufacturers.

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