Mondelez International Inc and D.E Master Blenders 1753 BV said they would combine their coffee businesses to create a company with annual revenue of more than $7 billion. Mondelez will receive about $5 billion and a 49 percent stake in the new company, Jacobs Douwe Egberts.U.S.-based Mondelez's coffee portfolio outside of France will be combined with those of Netherlands-based D.E Master Blenders.Acorn Holdings BV, the owner of D.E Master Blenders and majority owner of the new company, has also made a binding offer for Mondelez's coffee business in France, the companies said.
Mondelez International, Inc. (Mondelez International), is a snack manufacturing company. Shares of MDLZ fell by 1.1% or $-0.39/share to $35.22. In the past year, the shares have traded as low as $28.22 and as high as $36.12. On average, 9034430 shares of MDLZ exchange hands on a given day and today's volume is recorded at 6532035.
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