mondelēz international further expands its presence in china and significantly increases its equity investment in enxi village
2024-09-21
한어Русский языкEnglishFrançaisIndonesianSanskrit日本語DeutschPortuguêsΕλληνικάespañolItalianoSuomalainenLatina
- strengthening its leadership in the baked goods category by significantly increasing investment in china
- further meet the demand of young consumers in china's high-end markets for fresh, high-quality baked goods
- will continue to launch new products under the oreo and philly brands to expand market distribution
mondelēz international announced today that it has signed an agreement with enxicun (shanghai) industrial co., ltd. (enxicun), a leading chinese baked goods manufacturer, to significantly increase its equity investment in enxicun. this move marks another important step in mondelēz international's strategy to accelerate growth in the chinese market by focusing on the baked goods category.
china's frozen baked food category has great potential, and chinese consumers are increasingly inclined to choose fresh, high-quality, innovative and exquisite snack products to meet the increasingly diverse needs of the scene. previously, mondelez international has cooperated with enxi village to jointly develop, produce and market frozen baked foods based on iconic brands such as "oreo" and "fili". with the cooperation of both parties, enxi village has achieved rapid growth and accumulated strong r&d and technical expertise in related categories. mondelez international's additional investment will significantly increase its investment in the frozen baked food category and strengthen its leadership in this sub-category.
the increased investment in china is another important move by mondelēz international in its global layout in the field of baked goods. in april 2020, mondelēz international acquired give & go, a north american frozen baked goods manufacturer, whose main products include brownies, cookies, cupcakes and related baked products; in january 2022, mondelēz international acquired chipita global sa, one of the leaders in croissants, cake rolls and related frozen baked products in the central and eastern european markets.
"we are delighted to have the opportunity to expand our collaboration with enxicun, a well-deserved leader in china's frozen baked goods sector. i have great respect for the enxicun team. i believe that through our collaboration and continued innovation, we will be able to provide chinese consumers with better and more superior products. i am full of confidence in our common future," said frans van rijn, president of mondelēz international greater china.
xu linfeng, founder of enxicun industrial, said, "we are very pleased that mondelez international is increasing its investment in enxicun. this is a historic moment for enxicun. by introducing mondelez's brand experience, technical strength and international network, enxicun can better provide first-class products to our customers and consumers. i very much look forward to working with mondelez."
the investment and transaction are still subject to certain customary closing conditions, including obtaining review and approval from government regulatory authorities.
