Houlihan Lokey Advises Tate's Holding Company

Houlihan Lokey's Consumer, Food & Retail Group is pleased to announce that Tate's Holding Company (Tate's) of The Riverside Company (Riverside) has entered into a definitive agreement to be acquired by Mondelēz International, Inc. (Mondelēz) for approximately $500 million.

Founded in 2000 on Long Island, New York, Tate's is a fast-growing, premium cookie and baked goods brand known for its signature thin-and-crispy cookies that are made from simple, authentic, high-quality ingredients. Each cookie has characteristics of "homemade" quality and craft-baked uniqueness, creating cookies that are "perfectly imperfect." Tate's cookies are sold through leading retailers across the grocery, club store, natural, and specialty channels. With a devoted consumer following across the country, Tate's is one of the fastest growing cookie brands in the U.S., and sales have quadrupled over the past five years.

Riverside is a global private equity firm focused on making control and non-control investments in growing businesses valued at up to $400 million. Since its founding in 1988, Riverside has invested in more than 520 transactions. The firm's international portfolio includes more than 80 companies.

Mondelēz, through its subsidiaries, manufactures and markets snack food and beverage products worldwide. It offers biscuits, including cookies, crackers, and salted snacks; chocolates; gums and candies; powdered beverages; and cheese and grocery products. The company's primary snack brand portfolio includes Nabisco, Oreo, LU, and belVita biscuits; Cadbury, Milka, Cadbury Dairy Milk, and Toblerone chocolates; Trident gums; Halls candies; and Tang powdered beverages. The company was formerly known as Kraft Foods Inc. and changed its name to Mondelēz International, Inc., in October 2012. Mondelēz was founded in 2000 and is based in Deerfield, Illinois.