Hamptons Cookie Maker Tate's Bake Shop Sold For $500 Million (2024)

FAQs

How much did Kathleen King sell Tate's cookies for? ›

Kathleen King, founder of Tate's Bake Shop, recently passed her legacy into new hands when the company sold to Mondolēz International for $500 million. King didn't reach this level of success without a few setbacks, which taught her two important lessons about being an entrepreneur.

You're finding me and my CEO wrapped up in one person. At just 23 years old.” King founded and sold her cookie brand, Tate's Bake Shop, to Mondelez for $500 million in 2018.

“I made a terrible business decision because I trusted people,” says Kathleen. “Now I trust people with my eyes open!” A year of lawsuits ensued, and Kathleen lost the business, the name Kathleen's Bake Shop and owed $200,000 in debt. She had nothing left except the building she had purchased to house the shop.

The Riverside Company has sold Tate's Bake Shop, Inc. to global snacks company Mondelēz International, Inc. (NASDAQ:MDLZ) for US$530 million. Tate's is a fast-growing, premium cookie and baked goods brand renowned nationwide for its signature thin, crispy cookies and simple, authentic, high-quality ingredients.

KANSAS CITY — Since Mondelez International, Inc. acquired Tate's Bake Shop for $528 million in 2018, each company has benefited from the other's dominant traits.

Tate's Bakeshop CEO, Esi Seng sat down with Portland Press Herald CEO Lisa DeSisto for a conversation at The Roux Institute at Northeastern University on Wednesday, March 6.

Andrew Tate made his money from a variety of sources, including: His professional kickboxing career, during which he won multiple world championships. His various businesses, such as his online courses, casinos, and webcam business. His social media presence, where he has millions of followers.

The 2023 report by DIICOT shone a light on Andrew Tate's real net worth and dispelled bombastic estimates about his wealth that were circulating the internet in the past. Tate previously stated that he had a net worth of $100 million by age 31 and even jokingly referred to himself as the world's first trillionaire.

Tate's Bake Shop in New York reportedly threatened undocumented workers with deportation if they voted to unionize. Employees told local news outlets in New York that some of them are being harassed, and also alleged that they are working in unsafe conditions during the coronavirus pandemic.

What was the original name of Tate's cookies? ›

By 1980, she opened her first shop in Southhampton, New York, at 21 years old, naming it Kathleen's Cookie which then turned into Kathleen's Bake Shop, according to the Times. However, King's path to where she is today was less than sweet.

In June, Riverside sold Tate's for $500 million to Mondolēz International, who has increased cookie production from 1.5 million cookies a week to one million cookies a day. King is officially out of the business and finally retired — at least for now.

Hamptons Cookie Maker Tate's Bake Shop Sold For $500 Million - CBS New York.

The American-born Brit was one of four people arrested in connection with an investigation into alleged human trafficking, rape and forming an organised crime group. Tate, 36, was filmed being taken away in cuffs on Thursday and Romanian police raided the complex worth a reported £600,000.

Mondelez, the conglomerate behind brands Oreo, Chips Ahoy, and Ritz Crackers, will acquire cookie maker Tate's Bake Shop for $500 million in cash. As first reported in The Wall Street Journal, the deal is expected to close this summer. Tate's, a Southampton, N.Y.

Oreo is the best-selling cookie in the world. It is now sold in over 100 countries. Oreo was first produced in 1912 by the National Biscuit Company, now known as Na-Bis-Co.