Mondelez International Inc. (MDLZ:US), the snacks and coffee business spun off from Kraft Foods Inc., agreed to buy Italy’s Vitasnella snack unit from Danone (BN) SA.
Danone, based in Paris, will retain the Vitasnella name and dairy products business, Stefano Robba, a Mondelez spokesman, said in an e-mail. Terms weren’t disclosed.
Mondelez, following its separation from Kraft’s North American grocery enterprise, is adding new offerings to go alongside its Oreo cookies and Cadbury chocolates. The company split up to help the snacks business push products into emerging markets while the slower-growing, higher-margin grocery business returns cash to shareholders.
“This deal fits well into the recently announced spin-off and relevant launch of a global snacking company, Mondelez International,” said Robba.
Mondelez fell (MDLZ:US) 1 percent to $27.78 at 3:21 p.m. in New York.
Reuters earlier reported on the deal.
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