Mondelez CEO calls $2 billion Chipita acquisition a win for both companies

Mondelez CEO Dirk Van de Positioned on Thursday known as its most modern acquisition a “bewitch bewitch” for every firms interested in the deal.

The Oreo-maker launched Wednesday its acquisition of Chipita, a Greek firm whose croissants and baked snacks helped it generate $580 million in sales closing year. The acquisition gadgets Mondelez succor about $2 billion, which it plans to fund the utilization of new debt issuance and present money accessible.

“We will exhaust their distribution, their presence to form our distribution, nonetheless additionally to bring our manufacturers to their products,” Van de Set suggested CNBC’s Jim Cramer on “Angry Money.” “Take into consideration a croissant with Cadbury chocolate or Milka chocolate.”

Van De Set stated that Chipita’s products, while standard largely in Jap Europe, bask in possible for progress all the method thru the relaxation of the globe, namely in rising markets.

“Or now no longer it is a staunch bewitch bewitch field in my conception,” he stated.

Shares of Mondelez bask in risen 8% this year, giving it market cost of $89.2 billion.