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Mondelez to separate cheese, grocery business in Europe: Bloomberg


    (Reuters) - Oreo cookies maker Mondelez International Inc is separating its European cheese and grocery business into a standalone entity in a move that could lead to a sale or spinoff, Bloomberg reported, citing a source.

    The creation of this unit, which has about $1.4 billion in sales, comes at a time when the company is shifting its focus to faster-growing snack brands, the source with knowledge of Mondelez's deliberations told Bloomberg. (http://bloom.bg/1kLXXr8)

    Mondelez could not be immediately reached for comment.

    (Reporting by Siddharth Cavale in Bangalore)