Mondelez International makes snack foods and confectionery products sold globally under brands including Oreo, Cadbury, Ritz and Toblerone, spun off from the former Kraft Foods to separate its faster-growing global snacks business from Kraft's North American grocery operations. The company sells across more than 150 countries, giving it meaningful exposure to both developed markets and faster-growing emerging markets where rising incomes have historically supported growing snack consumption. Cocoa and wheat are significant input costs for its chocolate and biscuit products, so commodity price swings in those markets can meaningfully affect Mondelez's margins in a given year. Mondelez has grown partly through acquisitions of smaller snack brands, adding new products to its portfolio in categories adjacent to its core biscuit and chocolate businesses.