The Chicago Tribune reports that the terms of the deal weren’t released but officials with Enjoy Life Foods say the company has annual sales of more than $40 million.
The deal gives Illinois-based Mondelez a foothold in the $12 billion ‘free from” market, which is composed of companies offering snacks that don’t contain common allergens.
Enjoy Life sells a variety of cookies, cereals, soy-free chocolate and lentil chips that do not contain wheat, dairy, peanuts, tree nuts, egg, soy, fish and shellfish. The products are currently for sale in more than 35,000 store in the U.S. and Canada.
“As we focus on continuing to drive growth in snacking, the acquisition of Enjoy Life Foods is a great strategic fit for us,” Mark Clouse, Chief Growth Officer at Mondelez International said in a statement. “The Enjoy Life brand expands our portfolio into faster growing, on-trend, ‘better-for-you’ areas and provides an excellent platform to make these delicious offerings available to consumers with ‘free-from’ needs or simply looking for healthy-lifestyle options, both in the United States and beyond.”
According to Mondelez, Enjoy Life will operate as a separate, wholly owned subsidiary of the company.
Mondelez acquires small maker of allergen-free snacks [The Chicago Tribune]
by Ashlee Kieler via Consumerist
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