Mondelēz International To Acquire Majority Stake In Chinese Cake And Pastry Maker Evirth; Deal Expected To Close In Q4 2024 Pending Regulatory Approval; Incurred $2M In Acquisition Costs Last Quarter
Portfolio Pulse from Benzinga Newsdesk
Mondelēz International is set to acquire a majority stake in the Chinese cake and pastry maker Evirth. The deal is expected to close in Q4 2024, pending regulatory approval. Mondelēz incurred $2 million in acquisition costs last quarter.
October 29, 2024 | 8:10 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Mondelēz International is acquiring a majority stake in Evirth, a Chinese cake and pastry maker. The acquisition is expected to close in Q4 2024, subject to regulatory approval. Mondelēz incurred $2 million in acquisition costs last quarter.
The acquisition of Evirth by Mondelēz International is a strategic move to expand its presence in the Chinese market. The deal's completion is expected in Q4 2024, which could positively impact MDLZ's stock as it signifies growth potential. The incurred acquisition costs indicate ongoing investment in expansion.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100