Factset: FactSet Research Systems Inc.2019. The company said it will operate Tate’s … Oreo owner buys Tate's Bake Shop Oreo has a sweet tooth for Tate's cookies. Founded in 2000, Tate’s Bake Shop makes thin-and-crispy chocolate-chip cookies and its acquisition enables Mondelez to widen its portfolio of brands besides … This is Mondelez … The company is expected to sell some of its underperforming businesses. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. (mdlz) Mondelēz International announced an agreement with The Riverside Company, a global private equity firm, and other shareholders, including Founder Kathleen King, to acquire Tate’s Bake Shop for approximately USD 500 million. Related: Oreo maker is worried about rise of populism, "Today's consumers eat differently, shop differently and seek different experiences," Van de Put said at a conference in February. It tried to buy Hershey in 2016, but abandoned the bid. EAST HANOVER, N.J. — Nancy Pak has been named chief executive officer of Tate’s Bake Shop, a manufacturer of thin, crispy cookies and other baked foods and a subsidiary of Mondelez … Mondelez Acquisition of Tate’s Bake Shop. NEW YORK — Food giant Mondelez International has agreed to acquire cookie maker Tate’s Bake Shop for about $500 million, looking to address changing consumer tastes. All Rights Reserved. Mondelez has been looking for ways to grow in recent years. Deerfield / IL. Sales fell in North America last quarter. DEERFIELD, Ill. -- Mondelez International has agreed to acquire baked-goods manufacturer Tate’s Bake Shop for approximately $500 million, subject to customary regulations. Mondelez ( MDLZ ) , the owner of Oreo, Chips Ahoy and Ritz Crackers, plans to buy Tate's Bake Shop … Mondelez closes deal on Tate's Bake Shop cookie brand 6/11/2018 Mondelez International has finalized its acquisition of cookie brand Tate's Bake Shop for a price of approximately … Mondelez International acquired Tate’s Bake Shop in mid-2018 for approximately $500 million. Shop our selection of cookies, gift baskets, and more! Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN.  /  We are using cookies in order to facilitate your navigation. Baked goods from Tate's Bake Shop are perfect for any occasion. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. Related: Coke and Hershey's costs are going up. When Tate’s Bake Shop founder Kathleen King sold her cookie brand to Riverside Company for $100 million in 2014, it seemed like her company had reached the pinnacle of success, but now it has changed hands again—this time in a $500 million sale to Oreo and Chips Ahoy! "With Budweiser (BUD) and [JAB Holding] consolidating the global beer and coffee industries, respectively, we think there is room for someone to do the same in chocolate," Zuanic wrote in a report last week. In an attempt to keep up with consumer’s changing preference, Mondelez International, Inc. MDLZ entered into an agreement to acquire cookie-maker Tate’s Bake Shop for approximately $500 million. Tate’s is best known for … Four years later, Oreo maker Mondelez International bought the entire business for $500 million. On May 6, 2018, Mondelez International, Inc. acquired food company Tate’s Bake Shop, Inc. from Triangle Capital Corp., Golub Capital, The Riverside Company and Crescent Capital Group LP for 500M USD Acquisition Highlights. DEERFIELD, Ill., May … took over for longtime chief executive Irene Rosenfeld last night year, These are your 3 financial advisors near you, This site finds and compares 3 financial advisors in your area, Check this off your list before retirement: talk to an advisor, Answer these questions to find the right financial advisor for you, An Insane Card Offering 0% Interest Until Nearly 2020, Transferring Your Balance to a 14-Month 0% APR is Ingenious, The Top 7 Balance Transfer Credit Cards On The Market Today, Get $300 Back With This Outrageous New Credit Card. Terms of Use Deerfield / IL. (mdlz) Mondelēz International announced it has completed its previously announced acquisition of Tate’s Bake Shop, a fast-growing, premium cookie and baked goods brand known for its authentic, high-quality ingredients. CEO Dirk Van de Put said Tate's would get his company into the "fast-growing premium cookie segment." Disclaimer. DEERFIELD, ILL. — Mondelez International has completed the previously announced acquisition of Tate's Bake Shop, a premium cookie brand, for approximately $500 million. CEO Van de Put, who took over for longtime chief executive Irene Rosenfeld last night year, has ordered a strategic review of Mondelez's brands. … | ©Mondelēz International. Celeste Sloman. © 2020 Cable News Network. Mondelez (MDLZ), the owner of Oreo, Chips Ahoy and Ritz Crackers, plans to buy Tate's Bake Shop for $500 million. The company’s acquisition of Tate’s Bake Shop is just the latest in a number of Mondelez-backed investments in the healthier snack section. Sitemap, Governance Membership & Public Affairs Committee, Human Resources And Compensation Committee, Contacting the Board and Reporting Wrongdoings, Information for Former Cadbury Shareholders. Tate's does not disclose annual sales, but said in a news release that revenue has quadrupled over the past five years. All rights reserved. NASDAQ: MDLZ $56.1487 USD +0.1487 (0.27%), Home Mondelez, the owner of Oreo and Chips Ahoy, plans to buy Tate's Bake Shop to bring some "craft baked goods" to its cookie lineup. Tate’s Bake Shop is a fast-growing, premium cookie and baked goods brand known for its signature thin-and-crispy cookies and baked treats made with simple, authentic ingredients. Accessibility Tate's cookies sell for higher prices than Oreo and Chips Ahoy. Nestle said on Monday that it's paying more than $7 billion to sell Starbucks' (SBUX) packaged coffees and teas outside the United States. All Rights Reserved. All rights reserved. Mondelēz International to Acquire Tate’s Bake Shop. They are marketed as natural, authentic "crafted baked goods" from Southampton, New York. Provides entry into the fast-growing premium cookie segment. Mondelez, the conglomerate behind brands Oreo, Chips Ahoy, and Ritz Crackers, will acquire cookie maker Tate’s Bake Shop for $500 million in cash. Choose from a mix of homemade and flavorful Brownies, Blondies, and Dessert Bars that can be used for a gift or kept for yourself! owner Mondelēz International, Inc.. Food giant Mondelez International Inc. is adding another brand to its pantry. Most stock quote data provided by BATS. DEERFIELD, Ill., June 07, 2018 (GLOBE NEWSWIRE) -- Mondelēz International today announced it has completed its previously announced acquisition of Tate’s Bake Shop, a fast-growing, … The deal will add Tate's thin-and-crispy chocolate-chip cookies to Mondelez's lineup. The deal is expected to close … Our Brands DEERFIELD, Ill., June 07, 2018 (GLOBE NEWSWIRE) -- Mondelēz International today announced it has completed its previously announced acquisition of Tate’s Bake Shop, a fast-growing, premium cookie and baked … «The Tate’s Bake Shop … "We have to be more nimble, innovative and forward-looking than ever before.". Known for its signature thin-and-crispy cookies with simple, authentic, high-quality ingredients, Tate’s … Traditional snack and chocolate companies are struggling as Americans experiment with upstart brands that offer fresh foods, new ingredients and catchy marketing and packaging, both online and at supermarkets such as Whole Foods. 109.1 KB. Mondelez will keep Tate's as a standalone business, an attempt to protect the cookies' niche appeal among customers. | Mondelēz International Inc has closed its previously announced acquisition of Southampton, New York-based Tate’s Bake Shop, a premium cookie and baked goods provider, from … Tate’s Bake Shop, the maker of thin crispy cookies, has a new CEO who used to run Tom’s of Maine, the maker of toothpaste, deodorant and other personal care products, officials said. Will you pay more? Chocolate accounted for more than 31% of Mondelez's global sales in 2017. All times are ET. A Warner Media Company. Known for its signature thin-and-crispy cookies with simple, authentic, high-quality ingredients, Tate’s … It all started when Kathleen King, founder of Tate's Bake Shop, … Expands portfolio of brands that consumers love. The deal was first reported by The Wall Street Journal. CNN Sans™ & © 2016 Cable News Network. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. One Wall Street analyst, Pablo Zuanic at Susquehanna, believes Mondelez could going on a buying spree to try to create an international chocolate empire. Mondelēz International announced Sunday it will acquire Tate's Bake Shop, a brand best known for its premium bagged chocolate chip cookies, for around $500 million, according to a … By continuing to navigate on this website or clicking on the close button you accept our policy regarding the usage of cookies. Morningstar: © 2019 Morningstar, Inc. All Rights Reserved. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2019 and/or its affiliates. Privacy Policy Following the sale of her business, Southampton, New York-based Tate's … |  /. Mondelez operates Tate’s as a separate, standalone business with headquarters in Long … DEERFIELD, Ill., May 06, 2018 (GLOBE NEWSWIRE) -- Mondelēz International today announced an agreement with The Riverside Company, a global private equity firm, and other shareholders, including Founder Kathleen King, to acquire Tate’s Bake Shop for approximately $500 million . I likely first heard of Tate’s Bake Shop — the cookie company Oreo maker Mondelez International just bought for a cool $500 million — because either Martha Stewart or Ina Garten, … The company's stock is down 9% this year. DEERFIELD, ILL. — Mondelez International has completed the previously announced acquisition of Tate's Bake Shop, a premium cookie brand, for approximately $500 million. 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