On September 21st, Mondelez International announced that the company has signed an agreement with Enxi Village (Shanghai) Industrial Co., Ltd., a leading Chinese bakery manufacturer, to significantly increase its equity investment in Enxi Village. This increase in investment in China is another important move by Mondelez International in its global layout in the baking food industry.
Previously, Mondelez International had collaborated with Enxi Village to jointly develop, produce, and market frozen baked goods under iconic brands such as "Oreo" and "Feli". Under the cooperation of both parties, Enxi Village has achieved rapid growth and accumulated strong R&D and technical expertise in related categories. Mondelez International's additional investment this time will significantly increase its investment in the frozen baked goods category.
We are delighted to have the opportunity to expand our cooperation with Enxi Village, "said Fan Ruisi, President of Mondelez International Greater China." We believe that through working together and continuous innovation, we have the ability to provide better and superior products to Chinese consumers
Xu Linfeng, founder of Enxi Village Industrial, said, "For Enxi Village, this is a historic moment. By introducing Mondelez's brand experience, technological strength, and international network, Enxi Village can better provide first-class products for customers and consumers
It is reported that Enxi Village was founded in 2013 and is a large-scale enterprise specializing in the research and development, production, and sales of mid to high end frozen baked goods. It mainly provides a wide variety of baked goods for many high-quality channels such as membership stores, retail chains, catering chains, and new retail. The investment and transaction still need to meet some customary delivery conditions. This includes obtaining approval from government regulatory agencies.