Packaged food company Mondelez International Inc has agreed to sell a controlling interest in its SnackWell's cookie and cracker business to private equity firm Brynwood Partners, the Wall Street Journal reported. Financial terms of the deal were not disclosed, but Brynwood said it would combine SnackWell's with its Back to Nature cookies and granola business, according to the business daily.Mondelez will retain a significant minority stake in the brand, under which it makes chocolate chip and devil's food cake cookies aimed at dieters, the Journal reported on Monday.Mondelez and Brynwood could not be reached for comment outside of regular U.S. business hours. A Switzerland-based spokeswoman of U.S.-based Mondelez declined to comment.Mondelez faced criticism in July from activist investor Nelson Peltz, who said the company did not generate as much profit as it could and should be acquired by PepsiCo Inc .
Mondelez International, Inc. (Mondelez International), is a snack manufacturing company. Shares of MDLZ remained unchanged at $34.91. 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 3429804.
PepsiCo, Inc. (PepsiCo) is a global food and beverage company. Shares of PEP traded higher by 0.32% or $0.26/share to $82.71. In the past year, the shares have traded as low as $67.39 and as high as $87.06. On average, 4576880 shares of PEP exchange hands on a given day and today's volume is recorded at 2361322.
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