Given its relatively small market share, it seems likely that Mondelez will continue to make acquisitions in this category to capture a larger share.
Its many potential acquisition opportunities include brands from large players, such as Grupo Bimbo (which sold Ricolino to Mondelez). It could also buy a company like McKee Foods (maker of Little Debbie snacks, Drake's Cakes, Fieldstone Bakery snacks and cereal, and Sunbelt Bakery granola and cereal).
Mondelez also holds the third-largest position in the snack bars category, at 9.1% of the $19 billion market. It has made three deals over the past few years to build its position, including its 2022 purchase of Clif Bar.
Many of its top competitors in this category, such as Kind and Larabar, are owned by larger food companies (Mars and General Mills (GIS +0.26%), respectively). However, potential acquisition opportunities exist, such as the fast-growing healthy snacking company That's It.
Although acquisitions are a core aspect of its growth strategy, Mondelez will also sell non-core brands to enhance its approach. For example, in late 2023, it sold its gum brands in developed markets, including Trident, Dentyne, and Chicklets in the U.S., as well as several European brands.
It retained its gum business outside the U.S., Canada, and Europe, including Stride in China and all its other candy brands and products. The sale provided it with the funds to accelerate growth in its core chocolate, biscuits, and baked snacks categories.
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