Mondelez expands portfolio with Burton's Biscuits license acquisition

DEERFIELD, Ill. -- Mondelez International is acquiring a license that enables the company to manufacture, market and sell Cadbury-branded biscuits around the world.

The company announced Friday that it has signed an agreement to purchase the license from Burton's Biscuit Company.

"Ownership of the Cadbury biscuits license offers us exciting opportunities to accelerate global growth and innovation, as we expand our leading position in biscuits, globally and in Europe," said Hubert Weber, Executive Vice President and President, Mondelez Europe. "The transaction will help us to unify and expand our global Cadbury biscuits portfolio in key markets and enable us to explore delicious new products by using the best of our chocolate and biscuit innovation platforms."

Mondelez International and Burton's Biscuit Company have agreed that Cadbury-branded biscuits will continue to be manufactured in Burton's factories by their employees under a co-manufacturing agreement.

The companies agreed not to disclose financial terms of the transaction.