Mondelez International says it has signed a deal to buy a significant majority interest in Toronto-based Give & Go Prepared Foods, maker of baked goods such as two-bite brownies.
Illinois-based Mondelez — maker of Oreo, Triscuit and Chips Ahoy! brands — is acquiring the stake in the privately held Give & Go from funds affiliated with Thomas H. Lee Partners.
Financial terms of the deal were not immediately available.
Founded in 1989, Give & Go's management team will maintain a minority interest in the company. In addition to its two-bite brownies, Give & Go's brands include Create-A-Treat, Mason St. Bakehouse and the Worthy Crumb Pastry Co.
"Give & Go's leading position in the large and fast-growing in-store bakery channel gives us a unique opportunity to expand into new, on-trend consumer spaces," Glen Walter, executive vice-president and president, North America, for Mondelez International, said in a statement.
"Similar to our recent acquisitions of Perfect Snacks and Tate's Bake Shop, this is yet another great example of our bolt-on acquisition strategy to establish foundations in faster growing snacking adjacencies."