Food & Beverage, Consumer | Mergers & Acquisitions

Tate’s Bake Shop Acquired by Mondelēz International

  • TM Capital served as a financial advisor to Tate’s Bake Shop, a portfolio company of The Riverside Company, in its sale to global snacks company Mondelēz International, Inc. (NASDAQ:MDLZ) for approximately $500 million
  • Tate’s is a fast growing, premium cookie and baked goods brand renowned nationwide for its signature thin, crispy cookies and simple, authentic, high-quality ingredients
  • Over the past five years, Tate’s has doubled its brand awareness and achieved a 4x increase in sales and earnings by deepening existing customer relationships, expanding distribution, boosting its national sales and marketing team, launching new products and significantly expanding and improving production processes
  • Mondelēz International (whose brands include Oreo cookies, Cadbury Dairy Milk chocolate, Milka chocolate and Trident gum) will operate Tate’s as a separate, standalone business to nurture its entrepreneurial spirit and maintain the authenticity of the brand while providing resources to accelerate growth
  • TM Capital previously advised Tate’s Bake Shop, and founder Kathleen King, in its 2014 recapitalization with The Riverside Company, a global private equity firm with more than $7 billion of assets under management, which has completed over 520 transactions