Mondelēz International, Inc. has completed its acquisition of Chipita Global S.A., a high-growth leader in the central and eastern European croissants and baked snacks category.

Established in Greece more than 40 years ago, Chipita S.A. delivers croissants and other baked snack brands to consumers in more than 50 countries. The acquisition enhances Mondelēz’s offering in the $65 billion global packaged baked snacks category and allows the company to offer a broad baked snacks portfolio in Europe, with a significantly increased presence in fast-growing central and eastern European markets.

“We are delighted to formally welcome Chipita Global S.A. into Mondelēz International, bringing together our strong brands and heritage, as we continue to deliver great-tasting snacks and innovate across our brands to meet a wide range of changing consumer needs,” said Dirk Van de Put, chairman and CEO of Mondelēz International. “Chipita’s iconic brands and significant scale across so many attractive geographies make them a strong strategic complement to our existing portfolio and future growth ambitions in Europe and beyond.”

Mondelēz says the acquisition offers opportunities for innovation, bringing together brands such as Cadbury and Milka with Chipita croissant and baked snack brands like 7Days. A formal integration process will take effect over the next six months.

Mondelēz International will utilize Chipita ’s central and eastern European distribution network capabilities to enhance its own distribution in the region, while continuing to introduce its brands to new countries in the region and beyond. The company also expects to build on Chipita Global S.A.’s differentiated capabilities with additional procurement and manufacturing expertise.

The acquisition of Chipita Global S.A. builds on Mondelēz International’s continued expansion into fast-growing snacking segments. In 2021, the company acquired Grenade, a UK performance nutrition company; Gourmet Food Holdings, an Australian food company in the premium biscuit and cracker category; and Hu, a well-being snacking company in the United States.