Mondelēz confirms progress in meeting ESG goals

The company said its ESG strategy and goals prioritise delivering lasting change at scale through ‘innovative and holistic approaches, collaboration for sector-wide transformation and adoption of measurable solutions’. ESG remains a long-term value driver at Mondelēz and is core to the company’s purpose, it said in a statement to the media: ‘The 2021 Snacking Made … Read more

Mondelēz to offload US gum brands, prioritises long-term growth

The decision comes after Mondelēz launched a review of its gum business last year. The company has begun looking for a buyer and there’s no timeline yet for a sale, a spokesperson told CNN Business. In an investor event held on Tuesday, Mondelēz updated its long-term algorithm to 3 to 5% organic net revenue growth, … Read more

Mondelēz agrees sale with Grupo Bimbo for Ricolino and other key chocolate brands

The $1.3bn deal between the two giants will transform Mondelēz’s business in the high-priority Mexico market to accelerate growth and scale in core snacking categories. Ricolino is a growing business with a leading confectionery position in Mexico with approximately $500m in annual revenue, employing almost 6,000 staff. An attractive entry point The acquisition will double … Read more

TV exposé reveals child labour on Mondelēz Cocoa Life farms in Africa

According to a Dispatches documentary aired on British TV on Monday night, children as young as 10 were alleged to have been filmed working in Ghana to cocoa pods on farms that supply beans to Mondelēz through the company’s Cocoa Life sustainability programme. Under its initiative, Mondelēz said so far it has mapped approximately 167,800 … Read more

New Malaysia and Singapore MD reveals plans

Global snacking giant Mondelez appointed Narmeen Khan as Managing Director for its Malaysia and Singapore businesses recently in February 2022 to succeed former market head James Kane, from her previous role as Managing Director in Pakistan, bringing a total of 17 years of experience with the company. Khan highlighted her hopes and plans for her … Read more

Nestlé, Mondelēz on the defensive as pressure grows to pull out of Russia

Nestlé, which owns the KitKat and Smarties brands, said in a statement: “We have significantly scaled back our activities in Russia: we have stopped all imports and exports from Russia, except for essential products. We no longer make investments or advertise our products. We do not make a profit from our remaining activities. The fact … Read more

Mondelēz shrugs off supply chain and industrial woes in US to increase net income

The Cadbury owner’s net income was $4.3bn, equal to $3.06 per share on the common stock, up 21% from $3.56bn, or $2.48 per share, in 2020. Net sales were $28.7bn, up 8% from $26.6bn. Dirk Van de Put, Mondelēz International Chairman and Chief Executive Officer, told investors and the media: “2021 marked another year of … Read more