Oreo owner, Mondelez, has started progress on acquiring Tate’s Bake Shop to its lineup. Don’t worry if you love Tate’s Cookies, though!
The owner of Oreo, Ritz and Chips Ahoy, Mondelez, is about to get a little sweeter. It has plans to buy Tate’s Bake Shop, adding Tate’s Cookies and other products to its lineup. The good news is that when this does happen, nothing should change.
This isn’t an acquisition out of need for the company being acquired. In fact, Tate’s Bake Shop has shared that its profits have increased over the last five years. Mondelez is the one that’s seen sales fall. The acquisition will hopefully help to boost the sales for the company, especially if the company remains a separate brand.
(Photo by Justin Sullivan/Getty Images)
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Acquiring Tate’s Bake Shop isn’t the first venture into expanding a portfolio to help grow more business. In 2016, Mondelez took steps to acquire Hershey’s chocolate but then decided to back out. Since then, CEO Van de Put has searched for ways to grow the profile and sales of the company. He took over the business last year and has been working on growing profits ever since.
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Van de Put does admit that consumers are eating differently. There’s certainly more of a move away from sugar-laden and processed foods, which are the type of products Mondelez offers. Because of this, the company will need to get more innovative. It’s important to continue following the trend of the consumers, offering them the healthier but tastier alternatives they’re searching for. It just goes to show that avoiding brands because of their excess sugar or processing speaks volumes.
What do you think about the takeover? Would you be happy with Tate’s Cookies becoming part of the Oreo company lineup? Share your thoughts in the comments below.