Dive Brief:
- Mondelez International has its hands in a number of different projects meant to fuel growth across the world, where around 80% of sales come from outside North America.
- Through its $200 million Coffee Made Happy project, Mondelez offers training and other benefits to coffee farmers, beginning in Africa. With this initiative, the company plans on a 50% increase in African coffee output by mid-2017.
- While power brands still remain the foundation of Mondelez's global sales, its smaller brands are making headway. Innovation has comprised around 13% of the company's revenue over the past few years, said Irene Rosenfeld, Mondelez chairman and CEO, at a conference, reported by Food Business News.
Dive Insight:
Growth is on Mondelez's mind in a big way, and its recent moves demonstrate that goal. Just earlier this week, Mondelez acquired leading "free-from" health foods company Enjoy Life Snacks, and it announced last year it would take a majority stake in the snack unit of Vietnamese food manufacturer Kinh Do. Other recent expansions include a $24 million investment to go to a Turkey plant and signing a lease for a new plant in Bahrain.
Mondelez reported mixed fourth quarter 2014 earnings last week.