Mondelez Nears Deal to Buy Tate’s Bake Shop

The deal, valued at around $500 million, could be announced as soon as Monday

Food giant Mondelez International Inc. is adding another brand to its pantry.

The company is nearing a deal to buy cookie maker Tate’s Bake Shop as it seeks to address changing consumer tastes, according to people familiar with the matter.

A deal could be announced as soon as Monday, the people said, and value Tate’s at around $500 million.

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