Mondelez Buys Tate’s Bake Shop

"Founded as a small bakery in Southampton, New York, this Hamptons-based cookie maker is celebrated for thin, crispy, sugar-laced, chip-studded cookies that many call the best in the world. After receiving private-equity backing in 2014, its sales reportedly quadrupled over the past five years, and it was acquired by Mondelez International for $500 million. The buyer—whose portfolio includes mass-market cookies—says the brand will be left to operate independently and be “isolated from the big-company way,” but some observers remain wary about whether corporate ownership will change the product’s artisanal quality." - Chris Crowley