Mondelez International Inc and Dutch coffee and tea company D.E Master Blenders 1753 BV said on Wednesday they would combine their coffee businesses, as the U.S. company focuses on snacks such as Cadbury chocolate and Oreo cookies.Mondelez, which also announced a $3.5 billion cost-cutting program, said it would receive about $5 billion and a 49 percent stake in a new coffee company controlled by D.E Master Blenders that would have annual revenue of more than $7 billion.Mondelez's coffee business generated about $3.9 billion in revenue in 2013, or about 11 percent of total revenue. D.E Master Blenders' coffee business had sales of about $3.4 billion.Mondelez will contribute its Jacobs, Carte Noire, Gevalia, Kenco, Tassimo and Millicano brands to the new company, to be called Jacobs Douwe Egberts. D.E Master Blenders 1753 brands include Douwe Egberts, L'OR,Pil�o and Senseo.
Mondelez International, Inc. (Mondelez International), is a snack manufacturing company. Shares of MDLZ traded higher by 7.69% or $2.71/share to $37.93. 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 8011640.
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