Deerfield, Illinois-based Mondelez International has announced it will be acquiring Perfect Snacks, a manufacturer of refrigerated snack bars. Products by Perfect Snacks includes refrigerated protein bars and bites for adults, as well as a product line for children. According to Mondelez International, Perfect Snacks generated approximately $70 million in sales in 2018.
“Perfect Snacks is an amazing brand, growing fast and a great complement to our existing portfolio that expands our leadership across broader snacking. Well-being snacks in general, and refrigerated well-being snacks in particular, are a fast-growing segment and we look forward to working with and supporting the Keith family to help accelerate this brand’s great momentum,” explained Glen Walter, Executive Vice President and President of North America for Mondelez.
The company plans to operate Perfect Snacks as a separate business, to “nurture its entrepreneurial spirit.”
“We believe Mondelez International’s purpose, to ‘empower people to snack right’, aligns very well with why we started this brand and this business. We look forward to the great opportunity for Perfect Snacks to continue to grow and innovate as part of Mondelez International,” stated Bill Keith, Co-Founder and Chief Executive Officer of Perfect Snacks.
Financial terms of the acquisition we’re not disclosed.
Mondelez International has had a busy year so far, in April, the company took a minority stake in Hu Products and Hu Kitchen, a New York snack company which focuses on clean label, paleo-inspired products. In March 2019, the company also took a minority stake in Uplift Food, a start-up company focused on prebiotic functional foods.
To view current job openings at Mondelez International, click here.