In an attempt to keep up with consumer's changing preference, Mondelez International, Inc. MDLZ entered into an agreement to acquire cookie-maker Tate's Bake Shop for approximately $500 million. Tate's is one of the fast growing, premium cookie and baked goods brand in the United States. The company's retail sales in measured channels surged more than 40% through March 2018. Moreover, its sales quadrupled over the past five years. Buyout Benefits With the acquisition, Mondelez will able to bolster its presence in the fast-growing premium cookie segment. As Mondelez has been persistently facing the brunt of changing consumer preference in North America for a while, it is appropriate for the company to diversify portfolio. In 2017, net revenues fell 0.1% from the year-ago level. The food industry has been struggling with numerous issues.