Mondelez buys ‘two-bite’ brownies owner

NEW YORK Mondelez International Inc. is stocking up on treats with a deal for the Canadian owner of the “two-bite” brownies brand, in a move that pushes further into the bakery industry.

The Oreo cookies owner bought a majority interest in Toronto-based Give & Go Prepared Foods Corp. from private equity firm Thomas H. Lee Partners, it said in a statement Tuesday. Mondelez paid about US$1.2 billion for Give & Go., people with knowledge of the matter said.

Representatives for Mondelez and Thomas H. Lee declined to comment on the terms. The deal is expected to close in the second quarter, according to the statement.