The Oreo maker has snapped up the Australian company – which holds a strong position in the attractive premium biscuit and cracker category – for an undisclosed amount from Sydney-based private equity firm CPE Capital.
The 25% penalty on sweetened biscuits and waffle products exported from Germany to the United States has had a negative impact on its manufacturers, claimed the Association of the German Confectionery Industry (BDSI).
UK manufacturer pladis announced sales of biscuits grew by £66m (2.5%) - the category is now worth £2.7bn ($3.42bn) - and said it was on its way to unlocking a £264m opportunity within the coming three years.
In pursuing emerging markets, cross-category collaborations and a 'local-first' model, Mondelēz has maintained, and in some cases expanded, its stature as a global industry leader – led by the likes of Cadbury, Milka and Oreo.
Australian biscuit brand Tim Tam has entered the US market for the first time after the company decided to cater to the US consumer demands for on-the-go snacks, with a distribution deal with Connecticut-based commercial bakery Pepperidge Farm.