Shares of Mondelez International Inc (NASDAQ:MDLZ) ended Tuesday session in green amid volatile trading. The shares closed up +0.23 points or 0.52% at $44.42 with 5.18 million shares getting traded. Post opening the session at $44.53, the shares hit an intraday low of $43.90 and an intraday high of $44.88 and the price vacillated in this range throughout the day. The company has a market cap of $69.47 billion and the numbers of outstanding shares have been calculated to be 1.56 billion shares.
Mondelez International Inc (MDLZ) on Aug. 12, 2016 announced an agreement to purchase from Burton’s Biscuit Company the license that enables the company to manufacture, market and sell Cadbury-branded biscuits around the world, including in the UK, France, Ireland, North America and Saudi Arabia, subject to regulatory approval.
“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, Mondelēz 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.”
Mondelēz 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 have agreed not to disclose financial terms of the transaction.
Shares of Reynolds American, Inc. (NYSE:RAI) ended Tuesday session in green amid volatile trading. The shares closed up +0.30 points or 0.59% at $50.99 with 2.82 million shares getting traded. Post opening the session at $50.66, the shares hit an intraday low of $50.53 and an intraday high of $50.99 and the price vacillated in this range throughout the day. The company has a market cap of $74.16 billion and the numbers of outstanding shares have been calculated to be 1.43 billion shares.
Reynolds American, Inc. (RAI) manufactures, and sells cigarettes and other tobacco products in the United States. It operates through RJR Tobacco, Santa Fe, and American Snuff segments. The RJR Tobacco segment offers cigarettes under the NEWPORT, CAMEL, PALL MALL, DORAL, MISTY, and CAPRI brands; and CAMEL Snus, a smoke-free tobacco product, as well as manages various licensed brands, including DUNHILL and STATE EXPRESS 555. The Santa Fe segment manufactures and markets cigarettes and other tobacco products under the NATURAL AMERICAN SPIRIT brand. The American Snuff segment provides smokeless tobacco products, such as moist snuff under GRIZZLY and KODIAK brand names. The company also manufactures and markets digital vapor cigarettes under the VUSE brand name; and markets nicotine replacement therapy products under the ZONNIC brand. It distributes its products primarily through direct wholesale deliveries from a local distribution center and public warehouses. Reynolds American Inc. was founded in 2004 and is headquartered in Winston-Salem, North Carolina.