The owners of Tate's Bake Shop
are in for one sweet payday. Mondelez (MDLZ), who also owns Oreo, Chips Ahoy and Ritz Crackers, is purchasing the Hamptons-based "crafted baked goods" company for $500 million.
Known for their thin-and-crispy chocolate-chip cookies and other indulgent goodies, Tate's cooks up over 1.5 million treats at its East Moriches manufacturing facility on a daily basis.
"We're thrilled and humbled to be joining a portfolio of some of the world's most well-known and successful snacking brands. Consistent with Mondelēz 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 [King] first opened her storefront nearly two decades ago," Maura Mottolese, the chief executive officer of Tate's Bake Shop, shared. "Now, together with Mondelēz 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."
King originally started selling her irresistible creations at her parents' farmstand when she was just 11-years-old. Ten years later, she opened her first bake shop where she created a comprehensive line of traditional American desserts, growing the brand into the iconic line it is today.
Tate's, which is available at stores across the United States, has quadrupled its sales over the past five years. Its Southampton Bake Shop is a favorite among visitors and locals alike.
"Tate's is a great strategic fit that will complement our portfolio of beloved snacks brands. 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," Dirk Van de Put, Chairman and Chief Executive Officer of Mondelēz International, noted. "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."
Nicole is the Editor-in-Chief of Hamptons.com where she focuses on lifestyle, nightlife, and mixology. She grew up in the Hamptons and currently resides in Water Mill. www.hamptons.com
East End Tick Control
The East End's only New York State licensed dedicated tick and mosquito control specialists!
Hamptons Carpet One Floor & Home
We pay less,and so do you.With over 1,000 stores in our buying group, we can get the lowest prices
from the best flooring manufacturers — and pass the savings on to you.Visit our other locations: Hamptons Carpet One Floor & Home, 675 North Sea Road,Southampton, NY 11968
CP Complete- Landscape Design & Construction
Paul Guillo And Chris Hall
Two Of The Most Respected Names In The Community
Together, they are partners in CP Complete. They bring their years of experience
and integrity to creating and renovating luxury backyards.
Hamptons luxury real estate specialist for 33 years, Andrea Ackerman offers outstanding expertise in the field.
Hamptons luxury real estate specialist for 34 years, Andrea Ackerman offers outstanding expertise in the field. Trusted, experienced and successful, Andrea has solidified herself as the go-to broker of the Hamptons and a wholehearted advocate for her clients. A pioneer in the real estate industry on the East End of Long Island, she is driven by her passion for the business. Andrea is based in the Bridgehampton office of Brown Harris Stevens as a licensed real estate associate broker and consultant.
Formerly, a principal partner and Senior Director at Brown Harris Stevens, Andrea now assists in developing their corporate strategy for the Hamptons region, advising other brokers and sales associates, as well as being one of the top producers and listors.
Southrifty Drug 54 Jagger Lane, Southampton Village
Southrifty Drug is a small, neighborhood pharmacy with limited shelf space, and we have to be very selective about which over-the-counter items we carry. As a result you'll find a no nonsense concentration of very effective, high quality and useful products on our shelves. In this new section, we feature a number of these products that we feel are especially worthy of your consideration.
Burner Law Group, P.C.
Burner Law Group, P.C. are full service elder law attorneys concentrating in the areas of Estate Planning, Trust and Estate Administration and Litigation, Special Needs Planning, Guardianship and Elder Law. Offices in East Setauket‚ NY, Westhampton Beach, NY, and New York, NY.
Calissa is Mykonos in the Hamptons.
Our menu focuses on seafood and Greek dishes such as salt baked fish, seafood pasta and Mediterranean mezze. Our wine list has been awarded The Award of Excellence from Wine Spectator and boasts the largest selection of rosé in the Hamptons. The name Calissa is derived from the brightest constellation in the summer sky.Our sister restaurants in New York are Amali and Bar Marseille, opening 2020 in the Rockaways. Calissa offers private dining spaces for groups from 10 to 300 people. To plan your next wedding, corporate event or gathering, please email email@example.com. 1020 MONTAUK HIGHWAY, WATER MILL
WordHampton Public Relations
We build client revenues and reputations.
Our reputation is built on delivering a strong media presence and, as a result, demand for our clients' offerings, resulting in a positive impact on sales. Successful campaigns start with understanding the goals of our clients and developing a customized strategy that will achieve those objectives.