Mondelēz to acquire Undercover Snacks in expansion of better-for-you portfolio

Mondelēz is acquiring quinoa crisps brand Undercover Snacks as part of an expansion of its better-for-you snack portfolio. CEO Dirk Van de Put says the Oreo maker’s portfolio needs to evolve towards healthier snacks.

Mondelēz International has agreed to acquire a majority stake in Undercover Snacks. The deal will expand the company’s better-for-you snack portfolio. Mondelēz results Mondelēz reported Q3 revenue of US$9.97 billion for the quarter ended September 30, 2026. Adjusted earnings were $0.78 per share, exceeding analysts’ average estimate of $0.71. Revenue was slightly below the $9.98 billion expected by analysts. Organic revenue increased 2.1%, supported by a 1.8 percentage-point contribution from volume and mix and 0.3 percentage points from pricing. Adjusted operating income rose 17% at constant currency, supported by lower raw material costs, manufacturing productivity, pricing and favourable volume and mix. Higher overhead, advertising and consumer promotion expenses partly offset the gains. North American revenue increased 1.1% to $2.85 billion, while organic revenue grew 1.6%, entirely driven by pricing. Volume and mix remained flat. Through September, regional organic revenue increased 1.8%. In Europe, revenue declined 3.3%, with organic revenue falling 2.1% as lower pricing outweighed positive volume and mix contributions. Latin America recorded 12% revenue growth, while organic revenue increased 6.9%, supported by pricing and volume growth. Mondelēz reaffirmed its full-year 2026 outlook, projecting organic revenue growth of at least 2% and adjusted earnings per share growth ranging from flat to 5% at constant currency. Undercover Snacks acquisition The acquisition is expected to close in early 2027, according to Food Business Middle East & Africa. Candy Industry reports that the transaction is subject to customary closing conditions, including regulatory approval, and is expected to close during the first quarter of 2027. Financial terms were not disclosed. Undercover Snacks manufactures chocolate-coated quinoa crisps in chocolate and frosted varieties. Its products are gluten-free and made with simple ingredients. The brand was originally started in 2013 by founder and CEO Diana Levy as a hobby, and later relaunched with its gluten-free chocolate quinoa crisps in 2017 after her daughters were diagnosed with celiac disease. Dirk Van de Put, chairman and CEO of Mondelēz International, said: “We are delighted to announce our recent agreement to acquire Undercover Snacks, a delicious, crunchy quinoa crisp line that highlights our continued expansion in the high-growth permissible indulgence segment.” He added that Undercover Snacks is rapidly earning strong consumer preference and has a clear runway to expand household penetration and distribution. Mondelēz said the acquisition forms part of its strategy to expand into alternative snacking categories and strengthen its presence in permissible indulgence. The company said it would continue investing in its brands, innovation and distribution while pursuing growth opportunities across its markets.

Read source: Food Dive