M&A Deal Summary

Altria Acquires Mondelez International

On October 31, 1988, Altria acquired food company Mondelez International for 13.1B USD

Acquisition Highlights
  • This is Altria’s 2nd transaction in the Food sector.
  • This is Altria’s largest (disclosed) transaction.
  • This is Altria’s 2nd transaction in the United States.
  • This is Altria’s 1st transaction in Illinois.
Investment Fate
  • Mondelez International was sold to a strategic buyer in 2001.

M&A Deal Summary
Date 1988-10-31
Target Mondelez International
Sector Food
Buyer(s) Altria
Deal Type Add-on Acquisition
Deal Value 13.1B USD

Target

Mondelez International

Chicago, Illinois, United States
Mondelez International is a multinational confectionery, food, and beverage company. Mondelez was established in 2000 and is based in Chicago, Illinois.

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Buyer(S) 1

Buyer

Altria

Richmond, Virginia, United States
Category Company
Founded 1822
Sector Consumer Products
Employees6,400
Revenue 20.5B USD (2023)
DESCRIPTION
Entrance to Altria's corporate headquarters in Richmond, Virginia.
Entrance to Altria's corporate headquarters in Richmond, Virginia.

Altria is a global holding company focused on tobacco products. Altria Group, Inc.'s direct and indirect wholly-owned subsidiaries include Philip Morris USA Inc., which is engaged in the manufacture and sale of cigarettes and certain smokeless products in the United States; John Middleton Co., which is engaged in the manufacture and sale of machine-made large cigars and pipe tobacco, and is a wholly-owned subsidiary of PM USA; and UST LLC, which through its direct and indirect wholly-owned subsidiaries, including U.S. Smokeless Tobacco Company LLC and Ste. Michelle Wine Estates Ltd., is engaged in the manufacture and sale of smokeless products and wine. Philip Morris Capital Corporation, another wholly-owned subsidiary of Altria Group, Inc., maintains a portfolio of leveraged and direct finance leases. In addition, Altria Group, Inc. holds approximately 26.9% of the economic and voting interest of SABMiller plc. Altria was founded in 1822 and is based in Richmond, Virginia.

DEAL STATS #
Overall 2 of 7
Sector (Food) 2 of 2
Type (Add-on Acquisition) 2 of 5
State (Illinois) 1 of 1
Country (United States) 2 of 6
Year (1988) 1 of 1
Size (of disclosed) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1985-09-28 General Foods

White Plains, New York, United States

General Foods was a food conglomerate whose products included Post cereals, Tang, Kool-Aid and Crystal Light powdered drinks, Birds Eye vegetables, Log Cabin syrup and Stove Top stuffings. General Foods was formed in 1895 and was phased out in 1990. The Company was based in White Plains, New York.

Buy $5.6B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1995-01-05 General Foods

White Plains, New York, United States

General Foods was a food conglomerate whose products included Post cereals, Tang, Kool-Aid and Crystal Light powdered drinks, Birds Eye vegetables, Log Cabin syrup and Stove Top stuffings. General Foods was formed in 1895 and was phased out in 1990. The Company was based in White Plains, New York.

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