Mondelēz International has completed the acquisition of Chipita Global S.A., a high-growth leader in the Central and Eastern European croissants and baked snacks category.

The acquisition supports the company’s plan to focus on accelerating growth in core snacking, while continuing to expand its footprint in key markets.

Established in Greece more than 40 years ago, Chipita S.A. delivers croissants and other baked snack brands to two billion consumers in more than 50 countries.

Dirk Van de Put, Chairman & CEO of Mondelēz International, said: “We are delighted to formally welcome Chipita Global S.A. into Mondelēz International, bringing together our strong brands and heritage, as we continue to deliver great-tasting snacks and innovate across our brands to meet a wide range of changing consumer needs.

“Chipita’s iconic brands and significant scale across so many attractive geographies make them a strong strategic complement to our existing portfolio and future growth ambitions in Europe and beyond.”

A formal integration process will take effect over the next six months.

Mondelēz International will utilise Chipita ’s Central and Eastern European distribution network capabilities to enhance its own distribution in the region, while continuing to introduce its brands to new countries in the region and beyond. The company also expects to build on Chipita Global S.A.’s differentiated capabilities with additional procurement and manufacturing expertise.