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Undercover Snacks acquisition extends Mondelez's bolt-on M&A push. Mondelez is bolstering its better-for-you snack business, announcing its acquisition of a majority stake in Undercover Snacks during its Thursday earnings call. Deal Details: Mondelez CEO Dirk Van de Put said the brand is "highly incremental" to the sweets and snack company's portfolio, emphasizing he believes it will help capture "growing demand spaces" specifically within better-for-you, permissible indulgence occasions. Unlock the articles, expert interviews, and data reports that power the food and beverage industry. Join our community and stay ahead with exclusive insights from BevNET and Nosh.

Mondelēz profits rise as sales growth recovers despite weak european trading. 30th October 2026 Mondelēz International has reported an improvement in third-quarter profitability, supported by recovering sales volumes and easing cocoa costs, although revenue growth remained subdued in Europe. The Cadbury, Oreo and Milka owner reported net revenue of $9.97bn for the three months ended 30th September, an increase of 2.3% compared with the previous year. Organic revenue increased by 2.1%, driven primarily by a 1.8 percentage point contribution from volume and product mix, while pricing contributed 0.3 percentage points. The performance marked the company's strongest volume and mix growth since the third quarter of 2023, reflecting an improvement in consumer demand following several periods of price increases. In Europe, Mondelēz reported a 3.3% decline in revenue to $3.55bn, compared with $3.67bn a year earlier. Organic revenue declined by 2%, reflecting the impact of pricing and changes in product mix, although the company reported a return to volume growth in the region. North American revenue increased by 1.1% to $2.85bn, supported by improved volumes and market share gains. The strongest growth came from emerging markets. Revenue in Latin America increased by 12% to $1.39bn, while Asia, the Middle East and Africa recorded an 8.2% increase to $2.18bn. Mondelēz has been working to rebuild sales volumes following sharp increases in chocolate prices over the past two years, driven by historically high cocoa costs. Easing cocoa prices have provided greater scope for promotional activity and value packs as the company seeks to attract price-conscious shoppers. However, chief executive Dirk Van de Put warned that consumer confidence remained under pressure in North America, particularly because of higher energy prices. "We delivered strong third-quarter results, driven by broad-based volume growth and robust share performance. We continue to see top- and bottom-line growth momentum across both developed and emerging markets, while significantly reinvesting in our brands, innovation, and distribution," he said. Rachel Wolff, an analyst at eMarketer, warned that continued reliance on price increases could become less effective as household budgets remain under pressure. She also suggested that consumers facing higher fuel costs could reduce spending on discretionary products such as biscuits and confectionery. The company also announced an agreement to acquire Undercover Snacks, a US manufacturer of chocolate-coated quinoa crisps, as it expands into products positioned as healthier indulgent snacks. Wolff said the acquisition could help Mondelēz attract consumers prepared to pay more for snacks offering perceived health benefits. Mondelēz maintained its financial outlook for 2026, supported by improving sales volumes, emerging market growth and measures to reduce costs.