Mondelēz International, the parent company of Cadbury, has announced the acquisition of the majority stake in Perfect Snacks.
Perfect Snacks is a nutrition bar business that offers organic, non-GMO, nut-butter based protein bars and bites.
The US company is responsible for the Perfect Bar, Perfect Kids Refrigerated Snack Bars and Perfect Bites Refrigerated Protein Snacks.
InsideFMCG reported in 2018, the business generated around $70 million US in net revenue.
Mondelēz International executive vice president and president Glen Walter said: “We have a mission to lead the future of snacking by offering the right product, for the right moment, made the right way”.
“Perfect Snacks is an amazing brand, growing fast and a great complement to our existing portfolio that expands our leadership across broader snacking,” Mr Walter said.
“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.”
Perfect Snacks co-founder and CEO Bill Keith said: “We are so excited to be joining the Mondelēz International family. We believe Mondelēz 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 Mondelēz International”.