DEERFIELD, Ill. — Mondelez International has acquired a majority interest in refrigerated nutrition-bar company Perfect Snacks.
Perfect Snacks products are in the refrigerated section of more than 27,000 U.S. retailers. The company will continue operating from its headquarters in San Diego.
Mondelez International will operate Perfect Snacks as a separate business to maintain the authenticity of the brand. The company will provide resources to Perfect Snacks to expand consumer penetration and U.S. distribution of Perfect Snacks’ products and innovation.
The family-founded brand is known for products including the Perfect Bar, the Original Refrigerated Protein Bar and other lines of organic, non-GMO and nut-butter protein bars and bites. The Keith family was inspired by their father’s recipe and started Perfect Snacks in 2005.
“The Perfect Snacks majority acquisition further expands our leadership position in broader snacking, including the fast-growing segments of well-being and refrigerated snacking,” said Glen Walter, executive vice president and president, North America, for Mondelez International. “We are excited to begin working with and supporting the Keith family to accelerate the brand’s next chapter of growth as part of our existing portfolio of global and local brands.”
This isn't Mondelez International's first investment in a brand this year. Others include Uplift Food, a prebiotic and functional food startup; The Hatchery Chicago, a nonprofit food business incubator; Hu Kitchen, a chocolate, coffee and cracker producer; and The Kitchen, a food technology incubator. Each investment is part of Mondelez’s innovation and venture hub, SnackFutures.
Deerfield, Ill.-based Mondelez International is one of the world’s largest snack companies, with 2018 net revenues of about $26 billion. Its brands include Oreo, belVita, Sour Patch Kids and Trident gum.