Shearman & Sterling advised Chipita S.A. on the sale of its business to Mondelēz International, Inc. for approximately $2 billion, subject to certain post-closing price adjustments.
The transaction is also subject to competition approvals and excludes Nikas S.A., a meat-processing business, and Chipita’s minority interest in its Indian joint venture.
Chipita was established in Greece 40 years ago and is one of the largest producers of salty and sweet snacks in Central and Eastern Europe, with approximately $580 million of revenue in 2020. With a leading position in the production of packaged croissant and baked snacks, the company has a portfolio of iconic brands that, among others, include: 7Days, Chipicao and Fineti. Chipita has 13 production plants with presence in over 50 countries and employs more than 5,100 employees.
Mondelēz International empowers people to snack right in over 150 countries around the world. With 2020 net revenues of approximately $27 billion, MDLZ is leading the future of snacking with iconic global and local brands such as OREO, belVita and LU biscuits; Cadbury Dairy Milk, Milka and Toblerone chocolate; Sour Patch Kids candy and Trident gum. Mondelēz International is a member of the Standard and Poor’s 500, Nasdaq 100 and Dow Jones Sustainability Index.