MDLZ Mondelez International Inc

   By Josh Beckerman 
 

Mondelez International Inc. (MDLZ) has agreed to buy a majority stake in nutrition bar company Perfect Snacks, which had about $70 million in net revenue last year.

Mondelez said, "Well-being snacks in general, and refrigerated well-being snacks in particular, are a fast-growing segment."

Mondelez, whose products include Oreo cookies, Cadbury chocolate and Trident gum, previously indicated it might pursue acquisitions of healthy snacks.

Perfect Snacks, which makes the peanut butter-based Perfect Bar, was founded in 2005. In 2015, VMG Partners bought a minority stake.

Mondelez said current senior leadership, including Bill, Leigh and Charisse Keith, will continue to run Perfect Snacks from San Diego and retain a significant minority equity interest. All Perfect Snacks products will be made at its current manufacturing locations.

The sale price wasn't disclosed.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

June 19, 2019 17:04 ET (21:04 GMT)

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