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US owners of Oreo and Cadbury are considering bidding on I & J and Five Rose maker AVI-Insider

Five rose tea. Attachment: AVI

Mondelez International is considering bidding for South African food and beverage company AVI. The deal will help US multinationals expand their presence in Africa, people familiar with the matter say.

It’s unclear if an agreement will be reached, but discussions are underway, people who have asked for the process not to be identified as ongoing, said. Monderes, who owns Oreo biscuits and Cadbury chocolates, may not want to buy the entire company, one said.

Mondelez declined to comment. AVI did not respond to the request for comment.

After Bloomberg News reported, AVI’s share of the brand, which includes popular local products such as Five Rose Tea, has been in talks with unnamed suitors two months ago since the company announced. , 6.3% soared.

At 2:26 pm local time, the share price rose 4.4% and traded at R29.4 billion ($ 1.9 billion).

While AVI’s main brands are in the drinks and snacks category, the Johannesburg-based group also has fashion and frozen foods that don’t seem to fit naturally into the Mondelez portfolio.

The acquisition by Mondelez will take place after PepsiCo has agreed to acquire South Africa’s Pioneer Foods Group in 2019 for approximately $ 1.8 billion.

US owners of Oreo and Cadbury are considering bidding on I & J and Five Rose maker AVI-Insider

Source link US owners of Oreo and Cadbury are considering bidding on I & J and Five Rose maker AVI-Insider

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