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Contract Wins and Joint Ventures

Premier Foods renews relationship with Mondelez Int'l

08 May 2017 07:26

Premier Foods has signed 'Heads of Terms' for a strategic global partnership with Mondelez International to renew the company's long-standing licence to produce and market Cadbury branded cake and ambient dessert products.

Once finalised, the new licence would run until 2022, with an option for the company to extend this to 2025, subject to meeting certain performance criteria.

The partnership was expected to unlock new growth opportunities in an exciting range of markets beyond the core licenced territories of the UK, Ireland, Australasia and United Arab Emirates bringing the total number of licenced countries to 46.

New potential markets include South Africa, Canada, Japan, China, India, Asia Pacific, Caribbean and additional countries in the Middle East. The company was already developing plans to launch Cadbury cake in two new significant markets in 2017/18.

In addition, the partnership would provide for the possibility, subject to approval, to use the full range of Cadbury brands such as Flake, Crunchie, Caramel and Marvellous Creations, as well as the Oreo brand, opening the door to further growth opportunities in cake in the UK and overseas.

Story provided by StockMarketWire.com

Related Company: PFD

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