Milling & Baking News - June 5, 2018 - 11


Mondelez International acquiring
fast-growing cookie manufacturer
DEERFIELD, ILL. - Mondelez International has reached an agreement to
acquire Tate's Bake Shop for approximately $500 million. Founded in 2000
on Long Island, N.Y., Tate's is owned
by The Riverside Co., a global private
equity firm, and other shareholders,
including founder Kathleen King.
According to Mondelez, Tate's
has been one of the fastest growing
cookie brands in the United States
over the past 12 months, and sales
have quadrupled over the past five
years. The company makes thin and
crispy cookies.
"Tate's is a great strategic fit that
will complement our portfolio of beloved snacks brands," said Dirk Van
de Put, chairman and chief executive
officer of Mondelez. "With a unique
and authentic brand and truly delicious products, this acquisition gives
us an attractive entry point into the
fast-growing premium cookie segment. Tate's has demonstrated exceptional and very profitable growth,
and we look forward to working
with the Tate's management team to

expand distribution and build upon
that success."
Tate's will operate as a standalone
business and will continue to be run
by its current leadership from its headquarters on Long Island. The company also plans to continue making all


products at its current manufacturing
facility. Tate's also operates a specialty
bake shop in Southampton, N.Y.
"We're thrilled and humbled to
be joining a portfolio of some of the
world's most well-known and successful snacking brands," said Maura
Mottolese, c.e.o. of Tate's Bake Shop.

New Orleans bakery fined $127,128
for overtime, records violations
NEW ORLEANS - Dong Phuong
Oriental Bakery Inc., which operates
as DP Bakeshop, has been fined by
the U.S. Department of Labor's Wage
and Hour Division (W.H.D.).
The bakery, which is known for its
crusty French bread used in po-boys
and banh mi sandwiches, must pay
$127,128 in back wages to 43 employees to settle overtime and recordkeeping violations of the Fair Labor Standards Act.
The W.H.D. said the bakery violated the overtime requirements of the

F.L.S.A. by paying employees straight
time for all the hours they worked and
failing to pay them overtime when
they worked more than 40 hours in a
work week. The W.H.D. also said the
bakery violated F.L.S.A. recordkeeping provisions when it failed to keep
required payroll records for some employees, paying them in cash with no
"Employees who work long, hard
hours to make ends meet count on
being paid for every hour they work,
including the time-and-one-half the

South Sioux City grain elevator
explosion injures two employees
person is hospitalized after an explosion ripped a gaping hole in a
grain elevator owned by Anderson
Farms Inc. on May 29 in South Sioux
South Sioux City Police Chief Ed
Mahon told the Sioux City Journal that /

three employees were on site when
the explosion occurred. One was
transported to Mercy Medical Center
in Sioux City with serious injuries. He
was later transported to a hospital in
Lincoln, Neb.
A second person sustained slight injuries but was not hospitalized, and a third

"Consistent with Mondelez International's purpose to create more moments of joy for consumers, providing
an authentic, delicious indulgence has
been at the heart of Tate's Bake Shop
since Kathleen first opened her storefront nearly two decades ago. Now,
together with Mondelez International,
we'll have the opportunity to take
Tate's to the next level and offer our
cookies and baked treats to many more
consumers across North America."
The Riverside Co. invested in Tate's
Bake Shop in 2014, helping the company grow through expansion, production process improvements, deepening of existing customer relationships
and new product launches.
"Tate's had a great foundation for
becoming the truly special company
it is," said Alan Peyrat, a partner with
Riverside. "With new products like
snack-sized Tiny Tate's and on-trend
flavors like Coconut Crisps and Ginger Zinger, we helped the company respond to marketplace demands. Coupled with a focus on profitability, we
kept building on the proven success
of existing product lines, making customers and consumers even happier
along the way. Working with the Tate's
team was a wonderful experience." MBN
law requires when they work overtime," said Betty Campbell, regional
administrator with the W.H.D. "The
U.S. Department of Labor is committed to ensuring that employees
receive the wages they've earned and
that employers compete on a level
playing field where everyone plays
by the same rules."
Earlier this year Dong Phuong was
recognized as one of five recipients
of the 2018 America's Classics award
given out by the James Beard Foundation. The award recognizes restaurants that have a "timeless appeal
and are cherished for quality food
that reflects the character of their
community." MBN
was uninjured, the newspaper said.
Mr. Mahon said the cause of the explosion has not been determined.
The police department said structural engineers have deemed the
building unstable in its current state.
Immediately following the incident,
law enforcement took steps to block
the surrounding streets and evacuate
nearby homes because of the uncertainty regarding the structural integrity of the building. MBN
Milling & Baking News

June 5, 2018 / 11

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