Mondelez International is reportedly in discussions to buy The Hershey Company, a deal that would create one of the world’s largest confectionery companies.
According to Bloomberg, Mondelez recently approached Hershey regarding a takeover offer. However, there is no certainty the talks will lead to a deal.
Both Mondelez and Hershey said they do not comment on “rumours and speculation”.
Founded in 1923, Mondelez is the maker of popular candy and snack brands such as Oreo, Cadbury, Ritz, Toblerone and Sour Patch Kids. The company has operations in over 80 countries and reported global net revenues of approximately US$36 billion last year.
Hershey owns the famous namesake chocolate label, as well as KitKat, Ice Breakers, Reese’s and Jolly Rancher. The company’s stock price was up 15 per cent on Monday following reports on the purchase offer.
In August, Mars – another big player in the snacking sector – entered into an agreement to acquire Kellanova for US$36 billion. The deal brought iconic brands like Pringles, M&M’s and Snickers under one roof.
