NEWYORK: Mondelez, known for Oreo and Cadbury, is reportedly in talks to acquire Hershey, potentially creating one of the world’s largest candy giants. According to Bloomberg, the preliminary discussions caused Hershey‘s stock to surge nearly 15% in early Monday trading. While Mondelez declined to comment on the rumors, Company issued a similar statement, emphasizing no deal has been reached.
A merger would combine two major confectionery brands with iconic products like Oreo, KitKat, Reese’s, and Ritz Crackers. Both companies have faced a shift in consumer behavior, with rising health consciousness and inflation prompting more dealmaking in the industry, including Mars’ recent acquisition of Kellanova for $30 billion.
This isn’t the first time Mondelez has approached Hershey; in 2016, a $23 billion offer was rejected, with the Hershey Trust, the majority shareholder, opposing the sale.
