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Monday, December 30, 2013

Mondelez sells SnackWell's business to joint venture, (NASDAQ: MDLZ)

Packaged foods company Mondelez International Inc has sold its SnackWell's cookies and snacks business to its joint venture with Brynwood Partners VI LP, the private equity firm said on Monday.Brynwood did not disclose the financial details of the deal, which was earlier reported by the Wall Street Journal.The joint venture, Back to Nature Foods Co LLC, was formed in 2012 and sells products such as crackers, cookies, nuts and trail mixes made without artificial flavors or preservatives.Mondelez International holds a minority stake in the joint venture through its subsidiary Mondelez Global.

Mondelez International, Inc. (Mondelez International), is a snack manufacturing company. Shares of MDLZ traded higher by 0.2% or $0.07/share to $34.98. In the past year, the shares have traded as low as $25.00 and as high as $35.20. On average, 8740550 shares of MDLZ exchange hands on a given day and today's volume is recorded at 167765.