Mondelez International is tightening up operations in Argentina, announcing two transactions with local food group Molinos Rio de la Plata.
The US snacks giant has acquired Molinos’s toffee and taffy unit for ARS59.8m (US$7.1m). A spokesperson for Mondelez in the Cono Sur region told just-food the deal was an “important opportunity to strengthen our leadership in the candy market”. It gives Mondelez brands including Billiken and DRF.
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Meanwhile, Mondelez has sold its local pasta arm to Molinos for ARS130.7m. Mondelez said the sale allowed it to focus on its “strategic business in which it is more competitive – snacks and candy”.
A spokesperson for Molinos said the acquisition of the pasta business was part of its strategy to promote the growth of spaghetti and noodle demand in Argentina. The move sees the firm set itself a long-term strategic challenge “to increase the amount of times pasta is chosen as lunch or dinner,” he added.
