The company also brought back the Oreo-inspired cereal that was available exclusively in US Walmart stores 10 years ago.
“These products play into the nostalgia trend… while also allowing consumers to experience a favorite flavor from their past in a new way,” said Mondelēz’s spokesperson Kimberly Fontes.
Mondelēz’s former CEO Irene Rosenfeld, succeeded by Dirk Van de Put in November last year, had envisioned the company to be a global snacking powerhouse. The company, however, remained blank in the cereal category.
Asked if the partnership with Post Holdings signals a potential foray into a new category, Fontes said: “These are licensed products and not an entry by Mondelēz into the cereal category.
“Here in North America, as well as around the world, we have a long history of partnering with best-in-class companies to create licensed products across our family of brands,” she added. “Ice cream is another category where you’ve likely seen co-branding.”
Mondelēz reported several years of revenue decline until Q3 2017, during which its organic net revenue grew by 2.8%, while its core brands, including Oreo and Cadbury, grew 3.8%.
Fontes said Mondelēz is not trying to “revive” the cereal category, “but instead giving consumers a new way to enjoy our iconic brands.”
According to Mintel data, US sales of hot and cold cereals have declined 9% since 2012 to an estimated $10.5bn in 2017.