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Mondelēz International has reported strong third-quarter 2026 results, alongside an agreement to acquire a majority stake in better-for-you snack brand Undercover Snacks.
The acquisition, which is expected to close in early 2027, will strengthen Mondelēz’s position in the growing ‘permissible indulgence’ category as the company looks to expand its portfolio of snacks targeting health-conscious consumers.
Undercover Snacks produces chocolate-coated quinoa crisps, available in chocolate and frosted varieties. Its products are gluten-free and made with simple ingredients, offering consumers an alternative to traditional confectionery and snacks.
Mondelēz said the brand has been gaining consumer preference and has opportunities to increase household penetration and expand distribution.
In a statement, Dirk Van de Put, chairman and CEO of Mondelēz International, said: “We are delighted to announce our recent agreement to acquire Undercover Snacks, a delicious, crunchy quinoa crisp line that highlights our continued expansion in the high-growth permissible indulgence segment.”
For the quarter ended 30 September 2026, Mondelēz reported adjusted earnings of $0.78 per share, exceeding analysts’ average estimate of $0.71 per share.
Quarterly revenue reached $9.97bn, slightly below the $9.98bn expected by analysts.
The company attributed its performance to broad-based volume growth and strong market share performance across developed and emerging markets.
The statement said the business continued to see growth momentum across its markets, while increasing investment in its brands, innovation and distribution.
The acquisition of Undercover Snacks forms part of Mondelēz’s wider strategy to capture growth in snacks that combine indulgence with perceived nutritional benefits, as consumer demand for alternative snacking options continues to evolve.
