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Hamptons-Based Bake Shop Selling For $500 Million

Nicole Barylski by Nicole Barylski
May 8, 2018
in Dining
Home Dining

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.”

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Rita Cantina offers delicious Mexican cuisine and innovative cocktails. Their signature margarita recipes are composed of deliciously flavorful and seasonal ingredients, refreshing for this summer heat. @rita_cantina

These hot summer days call for a refreshing watermelon margarita recipe by margarita expert Adam Miller: 

Watermelon Margarita
Created by Adam Miller at Rita Cantina (Springs, NY)

● Ingredients
○ 2oz Blanco tequila
○ 1 oz watermelon juice
○ 1 oz lime juice
○ .75 oz simple syrup

● Method
○ Juice lime and watermelon fresh. Make a 1:1 simple syrup with cane sugar.
○ Combine all ingredients in a shaking tin and shake—fine strain over fresh ice. Garnish
with a lime wedge and drink!

● Glass
Double Old Fashioned Glass or Rocks Glass (12.5 oz and above)

Read more about Rita Cantina at Hamptons.com (Link in Bio) #ritacantina #mexican #margaritas #summer #tacos #springs #hamptons
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Read the full article at Hamptons.com (Link in Bio) #fashion #womenempowerment #hamptons #lifestyle #bydria
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7 East Gate Road, Wainscott, NY 11975
Saunders Co-Exclusive: $3,995,000

Located right in the very heart of the Hamptons, this terrific home is close to the places you want to be. The Wainscott Beach is less than 2 miles away. There’s a Jitney stop down the street, not to mention much-loved Levain Bakery, The Seafood Shop, Goldberg’s Famous Bagels, La Capannina Pizza and Wainscott Main Wine & Spirits. Also Wolffer Vineyards sunsets are right down the road. The location is hard to beat; get to Sag Harbor, East Hampton and Bridgehampton easily, in minutes. @divahands @hamptonsrealestate

Read the full article at Hamptons.com (Link in Bio) #hamptons #hamptonsrealestate #luxuryrealestate #saunders #hamptons
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Read the full article at Hamptons.com (Link in Bio) #hamptons #theater #baystreet
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Read the full article at Hamptons.com (Link in Bio) #hamptons #august #summer
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Elevate your next dinner out with Le Launch, a private and luxurious water taxi service in Sag Harbor. Who needs the valet when you cruise up in style to your waterside restaurant? Skip the traffic and enjoy the serenity and scenery of the Hamptons via private water taxi. @lelaunchhamptons

Read the full article at Hamptons.com (Link in Bio) #watertaxi #hamptons #lelaunch
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