Mondelez tries to seduce Hershey for 2024’s biggest food deal

Food giant Mondelez is testing the grounds with American chocolate producer Hershey, eight years after a similar attempt failed. Will perseverance pay off?

Biggest food deal of the year?

Mondelez could be exploring a possible acquisition of Hershey, Bloomberg reports. Both companies are based in the United States, but while Hershey is primarily known in the United States itself, Mondelez also has a very strong presence in Europe with brands such as Côte d’Or, Toblerone and LU. Together, the food giants would generate some 47 billion euros in sales.

Mondelez has already tried to acquire Hershey once, in 2016, but talks foundered when the latter rejected a bid worth 23 billion dollars. Today, the chocolate maker would be worth double that. A deal would be the biggest acquisition of the year, beating Mars‘ Kellanova acquisition this summer just before the year’s finish line. Last August, Mars paid 32 billion euros for the Pringles producer.