Market Newsdesk

SAN DIEGO and GAINESVILLE, Ga., Jan. 03, 2022 (GLOBE NEWSWIRE) — Recro Pharma, Inc. (“Recro”; NASD: REPH), a contract development and manufacturing organization (CDMO) dedicated to solving complex formulation and manufacturing challenges primarily in small molecule therapeutic development, today announced that its chief executive officer, David Enloe, will deliver a corporate presentation as part of the H.C. Wainwright BioConnect 2022 Conference. The conference, which will take place January 10-13, 2022, is being conducted with a virtual format.

Details for the corporate presentation are as follows:

• H.C. Wainwright BioConnect 2022 Conference
  Conference Dates: January 10-13, 2022
  Presentation Timing: Available online upon start of conference on Monday, January 10, 2022
  Format: Virtual conference; webcast available

To access the webcast of the presentation, please do so by visiting the “Events” page in the Investor section of the Company’s website, www.recrocdmo.com. An archived webcast will be available on the Company’s website for 30 days.

About Recro

Recro (NASD: REPH) is a bi-coastal contract development and manufacturing organization (CDMO) with capabilities spanning pre-Investigational New Drug (IND) development to commercial manufacturing and packaging for a wide range of therapeutic dosage forms with a primary focus in the area of small molecules. With an expertise in solving complex manufacturing problems, Recro is a leading CDMO providing therapeutic development, end-to-end regulatory support, clinical and commercial manufacturing, aseptic fill/finish, lyophilization, packaging and logistics services to the global pharmaceutical market.

In addition to our experience in handling DEA controlled substances and developing and manufacturing modified-release dosage forms, Recro has the expertise to deliver on our clients’ pharmaceutical development and manufacturing projects, regardless of complexity level. We do all of this in our best-in-class facilities, which total 145,000 square feet, in Gainesville, Georgia and San Diego, California.

For more information about Recro’s CDMO solutions, visit recrocdmo.com.

Deal Advances Strategy to Focus on Highly Engineered Products in the Motion Control and Power Transmission Markets and Expands Presence in Attractive Medical, Factory Automation and Defense Markets

Expects Acquisition to be Cash Accretive in 2022, Excluding Transaction Costs

BRAINTREE, Mass., Jan. 03, 2022 (GLOBE NEWSWIRE) — Altra Industrial Motion Corp. (Nasdaq: AIMC) (“Altra” or the “Company”), a leading global manufacturer and supplier of motion control, power transmission and automation products, today announced that it has acquired Cleveland, Ohio-based Nook Industries LLC (“Nook”), a leader in the US engineered linear motion industry.

Nook is expected to generate approximately $42 million in revenue in 2021, and the transaction is anticipated to be cash accretive to Altra’s earnings in 2022, excluding any one-time or acquisition-related costs. The Nook business, which will be integrated into Altra’s Thomson operating company in its Automation & Specialty (“A&S”) segment, expands the breadth of Altra’s linear products offering. The Company expects annual cost and sales synergies of approximately $6 million by year four of combined operations. In addition, Altra expects to receive a tax benefit, with a net present value of approximately $12 million to $15 million, as a result of the acquisition of Nook.

“The acquisition of Nook advances our strategy to focus Altra’s portfolio on highly engineered products in the motion control and power transmission markets and increase our exposure to attractive secular trends,” said Carl Christenson, Altra’s Chairman and Chief Executive Officer.

“With Nook, Altra is positioned to benefit from cross-selling opportunities that leverage our expanded and complementary linear motion control product offerings, while also gaining strong customer relationships in strategic end markets such as medical, factory automation and defense,” added Christenson. “We also have the opportunity to utilize Altra’s scale to leverage fixed costs, while also capitalizing on Nook’s production capacity to better satisfy increasing customer demand. We would like to welcome Nook’s employees to the Altra team and look forward to their contributions.”

About Nook Industries

Founded in 1969 by Joseph H. Nook, Jr., Nook provides a broad-based offering of premium linear motion solutions. Nook provides clients with proven knowledge and flexibility to design, engineer, and manufacture premium quality linear motion systems and solutions for their most challenging applications. Its customers benefit from a wide range of premium products and services that fit well into unlimited industries.  

About Altra Industrial Motion Corp.

Altra is a premier industrial global manufacturer and supplier of highly engineered motion control, automation, power transmission, and engine braking systems and components. Altra’s portfolio consists of 27 well-respected brands including Bauer Gear Motor, Boston Gear, Jacobs Vehicle Systems, Kollmorgen, Portescap, Stromag, Svendborg Brakes, TB Wood’s, Thomson and Warner Electric. Headquartered in Braintree, Massachusetts, Altra has over 9,000 employees and 48 production facilities in 16 countries around the world.

Forward-Looking Statements

All statements, other than statements of historical fact included in this release are forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, any statement that may predict, forecast, indicate or imply future results, performance, achievements or events. Forward-looking statements can generally be identified by phrases such as “believes,” “expects,” “potential,” “continues,” “may,” “should,” “seeks,” “predicts,” “anticipates,” “intends,” “projects,” “estimates,” “plans,” “could,” “designed”, “should be,” and other similar expressions that denote expectations of future or conditional events rather than statements of fact. Forward-looking statements also may relate to strategies, plans and objectives for, and potential results of, future operations, financial results, financial condition, business prospects, growth strategy and liquidity, and are based upon financial data, market assumptions and management’s current business plans and beliefs or current estimates of future results or trends available only as of the time the statements are made, which may become out of date or incomplete. Forward looking statements are inherently uncertain, and investors must recognize that events could differ significantly from our expectations. These statements include, but may not be limited to, statements regarding (a) Nook’s expected revenue of $42 million for 2021, (b) management’s expectation that the transaction will be cash accretive to the Company’s earnings in 2022, excluding any one-time or acquisition-related costs, (c) anticipated annual cost and sales synergies of approximately $6 million by year four of combined operations (d) the Company’s expected tax benefit, with a net present value of approximately $12 million to $15 million, as a result of the acquisition of Nook, (e) expectations that the acquisition of Nook will advance the Company’s strategy of focusing its portfolio on highly engineered products in the motion control and power transmission markets and increasing its exposure to attractive secular trends, (f) management’s expectations that with Nook, the Company will be positioned to benefit from cross-selling opportunities that leverage its expanded and complementary linear motion control product offerings, while also gaining strong customer relationships in strategic end markets such as medical, factory automation and defense, (g) that the Company will be able to utilize its scale to leverage fixed costs, while also capitalizing on Nook’s production capacity to better satisfy increasing customer demand, and (h) that the Nook employees will contribute to the Company.

In addition to the risks and uncertainties noted in this release, there are certain factors that could cause actual results to differ materially from those anticipated by some of the statements made. These include: (1) competitive pressures, (2) changes in political and economic conditions in the United States and abroad and the cyclical nature of the Company’s markets, (3) loss of distributors, (4) the ability to develop new products and respond to customer needs, (5) risks associated with international operations, including currency risks, and the effects of tariffs and other trade actions taken by the United States and other countries, (6) accuracy of estimated forecasts of OEM customers and the impact of the current global economic environment on the Company’s customers, (7) risks associated with a disruption to the Company’s supply chain, (8) fluctuations in the costs of raw materials used in the Company’s products, (9) product liability claims, (10) work stoppages and other labor issues involving the Company’s facilities or the Company’s customers, (11) changes in employment, environmental, tax and other laws and changes in the enforcement of laws, (12) loss of key management and other personnel, (13) risks associated with compliance with environmental laws, (14) the ability to successfully execute, manage and integrate key acquisitions and mergers, (15) failure to obtain or protect intellectual property rights, (16) impairment or reduction of goodwill or intangible assets, (17) failure of operating equipment or information technology infrastructure, including cyber-attacks or other security breaches, and failure to comply with data privacy laws or regulations, (18) risks associated with the Company’s debt leverage, (19) risks associated with restrictions contained in the agreements governing Altra’s $400 million aggregate principal amount of 6.125% senior notes due 2026 and Altra’s revolving credit facility and term loan facility, (20) risks associated with compliance with tax laws, (21) risks associated with the global recession and volatility and disruption in the global financial markets, (22) risks associated with implementation of the Company’s enterprise resource planning system, (23) risks associated with certain minimum purchase agreements we have with suppliers, (24) risks related to the Company’s relationships with strategic partners, (25) the Company’s ability to offset increased commodity and labor costs with increased prices, (26) risks associated with the Company’s exposure to variable interest rates and foreign currency exchange rates, (27) swap counterparty credit risk, including interest rate swap contracts, cross-currency swap contracts and hedging arrangements, (28) risks associated with the Company’s exposure to renewable energy markets, (29) risks related to regulations regarding conflict minerals, (30) risks related to restructuring and plant consolidations, (31) risks related to the Company’s A&S acquisition and integration and other acquisitions, including (a) the possibility that we may be unable to achieve expected synergies and operating efficiencies in connection with the transaction within the expected time-frames or at all and to successfully integrate A&S, (b) expected or targeted future financial and operating performance and results, (c) operating costs, customer loss and business disruption (including, without limitation, difficulties in maintaining relationships with employees, customers, clients or suppliers) being greater than expected following the transaction, (d) the Company’s ability to retain key executives and employees, (e) slowdowns or downturns in economic conditions generally and in the markets in which the A&S businesses participate specifically, (f) lower than expected investments and capital expenditures in equipment that utilizes components produced by us or A&S, (g) lower than expected demand for the Company’s or A&S’s repair and replacement businesses, (h) the Company’s ability to successfully integrate the merged assets and the associated technology and achieve operational efficiencies, (i) the integration of A&S being more difficult, time-consuming or costly than expected, (j) the inability to undertake certain corporate actions that otherwise could be advantageous to comply with certain tax covenants, (k) potential unknown liabilities and unforeseen expenses related to the acquisition and (l) the impact on the Company’s internal controls and compliance with the regulatory requirements under the Sarbanes-Oxley Act of 2002, (32) exposure to United Kingdom political developments, including the effect of its withdrawal from the European Union, and the uncertainty surrounding the implementation and effect of Brexit and related negative developments in the European Union and elsewhere, (33) Altra’s ability to achieve the efficiencies, savings and other benefits anticipated from its cost reduction, margin improvement, restructuring, plant consolidation and other business optimization initiatives, (34) the risks associated with transitioning from LIBOR to a replacement alternative reference rate, (35) the scope and duration of the COVID-19 global pandemic and its impact on global economic systems and the Company’s employees, sites, operations, customers and supply chain, including the impact of the pandemic on manufacturing and supply capabilities throughout the world, (36) adverse conditions in the credit and capital markets limiting or preventing the Company’s and its customers’ and suppliers’ ability to borrow or raise capital, (37) the Company’s ability to invest in new technologies and manufacturing techniques and to develop or adapt to changing technology and manufacturing techniques, (38) defects, quality issues, inadequate disclosure or misuse with respect to the Company’s products and capabilities, (39) changes in labor or employment laws, (40) the Company’s ability to recruit, retain and motivate key sales, marketing or engineering personnel, (41) unplanned repairs or equipment outages, (42) changes in the Company’s tax rates, including enactment of the Tax Cuts and Jobs Act of 2017, or exposure to additional income tax liabilities or assessments, as well as audits by tax authorities, (43) the risks associated with the Company’s ability to successfully divest or otherwise dispose of businesses that are deemed not to fit with the Company’s strategic plan or are not achieving the desired return on investment and (44) other risks, uncertainties and other factors described in the Company’s quarterly reports on Form 10-Q and annual reports on Form 10-K and in the Company’s other filings with the U.S. Securities and Exchange Commission (SEC) or in materials incorporated therein by reference. Except as required by applicable law, Altra does not intend to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise. AIMC-G

CONTACT:

Altra Investor Relations

781-917-0600

Email: [email protected]

Seasoned Drug Developer Brings More Than Twenty Years of Medical Leadership and Clinical Oncology Experience

On Track to Initiate Phase 1 Study of Decoy20 in 2022

NEW YORK, Jan. 03, 2022 (GLOBE NEWSWIRE) — Indaptus Therapeutics, Inc. (Nasdaq: INDP) (“Indaptus” or the “Company”), today announces the appointment of Dr. Boyan Litchev, M.D., as Chief Medical Officer, effective January 31, 2022. Dr. Litchev will oversee clinical strategy, clinical development and the conduct of all clinical programs and will report directly to Jeffrey A. Meckler, Chief Executive Officer of Indaptus.

“We are delighted to welcome Boyan to the Indaptus team,” said Mr. Meckler. “During 2021, we transitioned Indaptus into a cutting-edge company based on a new medical modality and this appointment underscores the progress we’ve made and the potential for our novel technology. We look forward to 2022 under Dr. Litchev’s stewardship as we plan to initiate clinical studies of Decoy20. His diverse experience, including both as an oncology clinical researcher and executive leader, will provide important insights as we advance our pipeline from the bench to the bedside over the coming years.”

“This is an exciting time to join Indaptus, as the Company embarks on initiating first-in-human clinical trials with its promising proprietary platform that is designed to activate both the innate and adaptive cellular immune pathways to treat various human diseases,” said Dr. Litchev. “I look forward to working with the team and bringing my skillsets and experience as we advance this novel approach towards developing new medicines for patients with some of the highest unmet medical needs.”

Dr. Litchev brings significant experience across a multitude of medical leadership roles that are specifically relevant for Indaptus. Before joining Indaptus, Dr. Litchev served as Senior Vice President and Head of Global Clinical Development Oncology at Shoreline Biosciences. Before that, he was Head of Clinical Development Oncology, Medical Affairs and Safety at Poseida Therapeutics, where he led all activities related to CAR-T programs in solid tumors. In addition, he has held similar executive medical positions at Halozyme, Akcea Therapeutics (now Ionis Pharmaceuticals), Baxalta/Baxter/Shire (now Takeda), and Ferring Pharmaceuticals. Earlier, Dr. Litchev was a Clinical Team Leader, Oncology at Quintiles International (now IQVIA). Prior to that he practiced as a physician and clinical researcher. Dr. Litchev holds an M.D. degree from Medical University Plovdiv.

About Indaptus Therapeutics

Indaptus Therapeutics has evolved from more than a century of immunotherapy advances. The Company’s approach is based on the hypothesis that efficient activation of both innate and adaptive immune cells and associated anti-tumor and anti-viral immune responses will require a multi-targeted package of immune system activating signals that can be administered safely intravenously. Indaptus’ patented technology is composed of single strains of attenuated and killed, non-pathogenic, Gram-negative bacteria, with reduced i.v. toxicity, but largely uncompromised ability to prime or activate many of the cellular components of innate and adaptive immunity. This approach has led to broad anti-tumor and anti-viral activity, including safe, durable anti-tumor response synergy with each of five different classes of existing agents, including checkpoint therapy, targeted antibody therapy and low-dose chemotherapy in preclinical models. Tumor eradication by Indaptus technology has demonstrated activation of both innate and adaptive immunological memory and, importantly, does not require provision of or targeting a tumor antigen in pre-clinical models. Indaptus has carried out successful GMP manufacturing of its lead clinical oncology candidate, Decoy20, and is currently completing other IND enabling studies.

Forward-Looking Statements

This press release contains forward-looking statements with the meaning of the Private Securities Litigation Reform Act. These include statements regarding management’s expectations, beliefs and intentions regarding, among other things, our product development efforts, business, financial condition, results of operations, strategies, plans and prospects. Forward-looking statements can be identified by the use of forward-looking words such as “believe”, “expect”, “intend”, “plan”, “may”, “should”, “could”, “might”, “seek”, “target”, “will”, “project”, “forecast”, “continue” or “anticipate” or their negatives or variations of these words or other comparable words or by the fact that these statements do not relate strictly to historical matters. Forward-looking statements relate to anticipated or expected events, activities, trends or results as of the date they are made. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties that could cause our actual results to differ materially from any future results expressed or implied by the forward-looking statements. Many factors could cause actual activities or results to differ materially from the activities and results anticipated in forward-looking statements, including, but not limited to, the following: Indaptus’ plans to develop and potentially commercialize its technology, the timing and cost of Indaptus’ planned investigational new drug application and any clinical trials, the completion and receiving favorable results in any clinical trials, Indaptus’ ability to obtain and maintain regulatory approval of any product candidate, Indaptus’ ability to protect and maintain its intellectual property and licensing arrangements, Indaptus’ ability to develop, manufacture and commercialize its product candidates, the risk of product liability claims, the availability of reimbursement, the influence of extensive and costly government regulation, and Indaptus’ estimates regarding future revenue, expenses capital requirements and the need for additional financing following the merger. These risks, as well as other risks are discussed in the proxy statement/prospectus that was included in the registration statement on Form S-4 filed with the SEC in connection with the merger. All forward-looking statements speak only as of the date of this press release and are expressly qualified in their entirety by the cautionary statements included in this press release. We undertake no obligation to update or revise forward-looking statements to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events, except as required by applicable law.

Investor Contact:

Will O’Connor  
Stern Investor Relations  
+1 212-362-1200  
[email protected]  

WALTHAM, Mass., Jan. 03, 2022 (GLOBE NEWSWIRE) — Apellis Pharmaceuticals, Inc. (Nasdaq: APLS), a global biopharmaceutical company and leader in complement, today announced that the company will present virtually at the 40^th Annual J.P. Morgan Healthcare Conference on Monday, January 10, 2022 at 8:15 a.m. ET.

The presentation and question and answer session will be available via a live webcast from the “Events and Presentations” page of the “Investors and Media” section of the company’s website. A replay of the webcast will be available for 30 days following the event. A copy of the presentation slides will be also posted on the company’s website beginning on Monday, January 10, 2022, at 8:00 a.m. ET.

About Apellis

Apellis Pharmaceuticals, Inc. is a global biopharmaceutical company that is committed to leveraging courageous science, creativity, and compassion to deliver life-changing therapies. Leaders in targeted C3 therapies, we aim to develop transformative therapies for a broad range of debilitating diseases that are driven by excessive activation of the complement cascade, including those within hematology, ophthalmology, nephrology, and neurology. For more information, please visit www.apellis.com.

Investor Contact:

Meredith Kaya
[email protected] 
617.599.8178

WATERTOWN, Mass., Jan. 03, 2022 (GLOBE NEWSWIRE) — C4 Therapeutics, Inc. (C4T) (Nasdaq: CCCC), a clinical-stage biopharmaceutical company pioneering a new class of small-molecule medicines that selectively destroy disease-causing proteins through degradation, today announced that the Company will present at the 40^th Annual J.P. Morgan Healthcare Conference on Monday, January 10, 2022 at 10:30 a.m. EST.

A live webcast of the presentation can be accessed under “Events & Presentations” in the Investors section of the company’s website at www.c4therapeutics.com. A replay of the webcast will be archived on the C4T website for at least two weeks following the presentation.

About C4 Therapeutics

C4 Therapeutics (C4T) is a clinical-stage biopharmaceutical company focused on harnessing the body’s natural regulation of protein levels to develop novel therapeutic candidates to target and destroy disease-causing proteins for the treatment of cancer and other diseases. This targeted protein degradation approach offers advantages over traditional therapies, including the potential to treat a wider range of diseases, reduce drug resistance, achieve higher potency, and decrease side effects through greater selectivity. To learn more about C4 Therapeutics, visit www.c4therapeutics.com.

Investor Contact: 
Kendra Adams 
SVP, Communications & Investor Relations 
[email protected]

Media Contact: 
Loraine Spreen 
Director, Corporate Communications & Patient Advocacy 
[email protected]

Fully Aligned and Capital Efficient Model Positions Apollo for Differentiated Growth and Returns

Enhanced Liquidity and Trading Profile Expected to Attract Broader, More Diversified Investor Base

NEW YORK, Jan. 03, 2022 (GLOBE NEWSWIRE) — Apollo and Athene today announced the successful completion of their merger under Apollo Global Management, Inc. (NYSE: APO), a high-growth alternative asset manager with asset management and retirement services capabilities.

“Apollo and Athene are world-class franchises that have flourished as strategic partners, and we expect the full alignment achieved by our merger will accelerate our collective growth,” said Apollo CEO Marc Rowan. “I am thrilled to partner with experienced leaders and talented teams within both businesses that will drive our differentiated ‘One Apollo’ model forward. Together, we will continue to serve the investment return and retirement savings needs of all our clients.”

“Athene and Apollo have seen tremendous mutual benefit from our longstanding strategic relationship, and now with full alignment our value will be significantly stronger than the sum of our parts,” said Jim Belardi, CEO of Athene. “This combination is a competitive differentiator and a growth accelerant, bringing expected benefits to all of our shareholders, policyholders and important stakeholders.”

“As a combined public company, we have created a superior model to deliver highly stable and diversified earnings, to accelerate our growth, and to originate the highest quality assets for our clients. Together we articulated an attractive plan to generate $15 billion of deployable capital over the next five years and more than double our fee-related earnings. We are excited to continue executing on this plan together,” said Scott Kleinman and Jim Zelter, Co-Presidents of Apollo Asset Management.

As a result of the merger, the combined entity Apollo Global Management, Inc., led by Chief Executive Officer Marc Rowan, has two principal subsidiaries: Apollo Asset Management (formerly Apollo Global Management, Inc.), its alternative asset management business, and Athene, its retirement services business. Apollo Asset Management will continue to be led day-to-day by its Co-Presidents Scott Kleinman and Jim Zelter, while Athene will continue to be led by its CEO Jim Belardi. Apollo’s Board of Directors is led by non-executive Chair Jay Clayton and comprised of a highly qualified, diverse, and two-thirds independent group of directors representing both parts of the business. The full list of representatives can be found in the governance section of Apollo.com/stockholders.

Following the transaction, Apollo Global Management, Inc. is now the publicly traded combined entity, with approximately 600 million shares of a single class of voting stock entitled to one vote per share. Each outstanding Class A common share of Athene was exchanged for a fixed ratio of 1.149 shares of Apollo stock. The last trading day closing prices of Apollo and Athene common stock imply that the combined Apollo opens with a market capitalization of $43 billion. Management continues to expect the transaction to be credit ratings positive for all rated entities within the combined company.

As a larger and more liquid company with a single class of common stock and industry-leading corporate governance, Apollo is now eligible for inclusion in the S&P 500 index. In addition, Apollo expects the enhanced trading profile of its stock to attract a broader and diversified investor base over time.

About Apollo

Apollo is a global, high-growth alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three business strategies: yield, hybrid, and equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of September 30, 2021, Apollo had approximately $481 billion of assets under management. To learn more, please visit www.apollo.com.

Forward-Looking Statements

This press release contains forward-looking statements that are within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, but are not limited to, discussions related to Apollo’s expectations regarding the performance of its business, its liquidity and capital resources and the other non-historical statements in the discussion and analysis and expectations regarding benefits anticipated to be derived from the merger (the “Merger”) with Athene Holding Ltd. (“Athene”). These forward-looking statements are based on management’s beliefs, as well as assumptions made by, and information currently available to, management. When used in this press release, the words “believe,” “anticipate,” “estimate,” “expect,” “intend,” “may,” “will,” “could,” “should,” “might,” “target,” “project,” “plan,” “seek,” “continue” and similar expressions are intended to identify forward-looking statements. Although management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. It is possible that actual results will differ, possibly materially, from the anticipated results indicated in these statements. These statements are subject to certain risks, uncertainties and assumptions, including risks relating to Apollo’s dependence on certain key personnel, Apollo’s ability to raise new Apollo funds, the impact of COVID-19, the impact of energy market dislocation, market conditions, and interest rate fluctuations, generally, Apollo’s ability to manage its growth, fund performance, the variability of Apollo’s revenues, net income and cash flow, Apollo’s use of leverage to finance its businesses and investments by Apollo Funds, Athene’s ability to maintain or improve financial strength ratings, the impact of Athene’s reinsurers failing to meet their assumed obligations, Athene’s ability to manage its business in a highly regulated industry, changes in Apollo’s regulatory environment and tax status, litigation risks and Apollo’s ability to recognize the benefits expected to be derived from the Merger. Apollo believes these factors include but are not limited to those described under the section entitled “Risk Factors” in the joint proxy statement/prospectus filed by Apollo Global Management, Inc. (formerly known as Tango Holdings, Inc.) with the Securities and Exchange Commission (the “SEC”) on November 5, 2021, Apollo Asset Management Inc.’s (“AAM,” formerly known as Apollo Global Management, Inc.) Annual Report on Form 10-K filed with the SEC on February 19, 2021 and Quarterly Report on Form 10-Q filed with the SEC on May 10, 2021, and Athene’s Annual Report on Form 10-K filed with the SEC on February 19, 2021, its amendment to its annual report on Form 10-K/A filed with the SEC on April 20, 2021 and Quarterly Report on Form 10-Q filed with the SEC on November 8, 2021, as such factors may be updated from time to time in Apollo’s, AAM’s or Athene’s periodic filings with the SEC, which are accessible on the SEC’s website at http://www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release and in other filings. Apollo undertakes no obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable law. This press release does not constitute an offer of any Apollo fund.

Contacts:

For Investors:
Noah Gunn
Global Head of Investor Relations, Apollo
(212) 822-0540
[email protected]

For Media:
Joanna Rose
Global Head of Corporate Communications, Apollo
(212) 822-0491
[email protected]

Amanda Carstens Steward
Head of Marketing & Corporate Communications, Athene
(515) 342 6473
[email protected]

• Represents important milestone in Company’s strategy to accelerate growth and become a global snacking leader
• Enhances offering in attractive $65B global packaged baked snacks category
• Enables innovation across beloved brands including Cadbury, Milka and 7Days

CHICAGO, Jan. 03, 2022 (GLOBE NEWSWIRE) — Mondelēz International, Inc. (Nasdaq: MDLZ) today announced that it has completed the acquisition of Chipita Global S.A., a high-growth leader in the Central and Eastern European croissants and baked snacks category.

The acquisition marks an exciting milestone in the Company’s strategic plan, focused on accelerating growth in core snacking adjacencies, while continuing to expand its footprint in key markets.

Established in Greece more than 40 years ago, Chipita S.A. delivers croissants and other baked snack brands to two billion consumers in more than 50 countries. The acquisition enhances the Company’s offering in the attractive $65 billion global packaged baked snacks category and enables Mondelēz International to offer a broad baked snacks portfolio in Europe, with a significantly increased presence in fast-growing Central and Eastern European markets.

“We are delighted to formally welcome Chipita Global S.A. into Mondelēz International, bringing together our strong brands and heritage, as we continue to deliver great-tasting snacks and innovate across our brands to meet a wide range of changing consumer needs,” said Dirk Van de Put, Chairman & CEO of Mondelēz International. “Chipita’s iconic brands and significant scale across so many attractive geographies make them a strong strategic complement to our existing portfolio and future growth ambitions in Europe and beyond.”

Chipita has been at the forefront of development and growth in the croissant and baked snacks sector across multiple countries, driven by its strong innovation and manufacturing capabilities. The acquisition offers exciting opportunities for innovation bringing together iconic Mondelēz International brands such as Cadbury and Milka, with beloved Chipita croissant and baked snack brands like 7Days. A formal integration process will take effect over the next six months.

Mondelēz International will utilize Chipita ’s Central and Eastern European distribution network capabilities to enhance its own distribution in the region, while continuing to introduce its brands to new countries in the region and beyond. The Company also expects to build on Chipita Global S.A.’s differentiated capabilities with additional procurement and manufacturing expertise.

The acquisition of Chipita Global S.A. builds on Mondelēz International’s continued expansion into fast-growing snacking segments. In 2021, the Company acquired Grenade, a leading UK performance nutrition company; Gourmet Food Holdings, a leading Australian food company in the attractive premium biscuit and cracker category; and Hu, a well-being snacking company in the United States.

About Mondelēz International
Mondelēz International, Inc. (Nasdaq: MDLZ) empowers people to snack right in over 150 countries around the world. With 2020 net revenues of approximately $27 billion, MDLZ is leading the future of snacking with iconic global and local brands such as OREO, belVita and LU biscuits; Cadbury Dairy Milk, Milka and Toblerone chocolate; Sour Patch Kids candy and Trident gum. Mondelēz International is a proud member of the Standard and Poor’s 500, Nasdaq 100 and Dow Jones Sustainability Index. Visit www.mondelezinternational.com or follow the company on Twitter at www.twitter.com/MDLZ.

About Chipita S.A.

Chipita S.A. was established in Greece 40 years ago. It is one of the largest producers of salty and sweet snacks in Central and Eastern Europe, with approximately $580 million of revenue in 2020. With a leading position in the production of packaged croissant and baked snacks, the company has a portfolio of iconic brands that among others include: 7Days, Chipicao, and Fineti. A pillar to the company’s decision making has been the development and expansion of confectionary and baked snacks across many markets, driven by innovation and strong manufacturing capabilities. It has 13 production plants with presence in over 50 countries and employs more than 5,100 employees.

Forward-Looking Statements

This press release contains forward-looking statements. Words, and variations of words, such as “will,” “may,” “expect,” “plan” and similar expressions are intended to identify these forward-looking statements, including, but not limited to, statements about Mondelēz International’s strategy and plans for growth, the transaction and the expected results of the transaction, and the benefits to and future prospects for the Chipita Global S.A. business. These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond Mondelēz International’s control, which could cause Mondelēz International’s actual results to differ materially from those indicated in these forward-looking statements. Please also see Mondelēz International’s risk factors, as they may be amended from time to time, set forth in its filings with the U.S. Securities and Exchange Commission, including its most recently filed Annual Report on Form 10-K. Mondelēz International disclaims and does not undertake any obligation to update or revise any forward-looking statement in this press release, except as required by applicable law or regulation.