Mondelez International To Acquire Evirth

(RTTNews) - Mondelez International Inc. (MDLZ) said that it agreed to acquire a significant majority stake in Evirth, a manufacturer of cakes and pastries in China, subject to customary closing conditions, including regulatory approval.

Founded in 2013, Evirth is a leading company in the frozen-to-chilled cakes and pastries market in China, a sector currently valued at approximately $3 billion and experiencing a compound annual growth rate of about 15 percent.

Mondelez already has a minority investment in Evirth to develop, manufacture and supply frozen-to-chilled cakes and pastries in China featuring some of its iconic brands, including Oreo and Philadelphia.