[ad_1]
(CercleFinance.com) – Mondelez announces the signing of an agreement to acquire a significant majority stake in Evirth, a Chinese cake and pastry manufacturer, subject to customary conditions, including regulatory approval.
The American already holds a minority stake in Evirth to develop, manufacture and supply frozen to refrigerated cakes and pastries in China, under some of its iconic brands such as Oreo and Philadelphia.
Founded in 2013, Evirth is a leader in the frozen-to-refrigerated cake and pastry sector in China, a category currently valued at $3 billion, with a compound annual growth rate of approximately 15%.
Copyright © 2024 CercleFinance.com. All rights reserved.
Did you like this article? Share it with your friends using the buttons below.
[ad_2]
Source link -85