Nelson Peltz takes a jab at Mondelez's name

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Associated Press

Posted on July 17, 2013 at 4:01 PM

Updated Wednesday, Jul 17 at 4:02 PM

NEW YORK (AP) — Oreo cookie maker Mondelez was poked for its made-up name again — this time during a highly anticipated interview on CNBC.

Activist investor Nelson Peltz made headlines on Wednesday when he revealed his plans to push PepsiCo to shed its beverage unit and buy Mondelez, a deal that would create a global snack food powerhouse by bringing together PepsiCo's Frito-Lay unit with the chocolate, gum and cookies sold by Mondelez.

His remarks likely sent up stress levels at the headquarters of the two companies. But Peltz also took a jab at the Mondelez moniker, which he flat-out said he hated.

"It sounds like a disease — 'suffering from Mondelez,'" he scoffed.

Executives at Mondelez, which separated from Kraft Foods last year, are likely accustomed to the mockery by now.

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