As one of the biggest advertisers in the world, boasting brands like Oreo, Cadbury, Ritz, Milka and many more under its purview, Mondelez sits as a desirable client for agencies in media and beyond. Confectionary giant Mondelez has announced the outcome of its global media review, outlining which agencies it will work with. As a result of the process, Carat has lost the North America and ANZ accounts but retained the UK and Ireland. It remains a "key partner" of the brand.

Until the review, Carat held accounts in North America, most of Europe and Asia Pacific. Meanwhile, Spark held Latin America, Russia, Turkey, Ukraine and the Middle East. Dentsu Aegis Network’s Carat retained Mondelez's media account in the UK and Ireland (worth around £50m). It pitched against Wavemaker and Starcom at the end of May on the promise that it would deliver innovative work for the brand in media.

Carat has held that account in 2015 along with the US. Recently it lost the North American account which went to Spark Foundry and VaynerMedia. The announcement also revealed that Carat has lost the Australia and New Zealand businesses to WPP's Mindshare, an account worth $40m.

A Mondelez spokesperson said: “With our global review, we took a new look at our media buying to better equip our company for the future and address key changes such as programmatic, transparency and ecommerce.“We’re excited about this next phase of our digital transformation and are convinced that the partners we’ve chosen (Spark Foundry, Wavemaker, Carat and Vayner) will help us in our journey. We’re very proud of the partnership we built over the years with our incumbent agencies and the value they have delivered.”

They added: "The new structure is the result of a thorough assessment to evaluate capabilities in key areas of our growth strategy at a local market level. Carat is still one of our key partners and we’re excited about this next phase of our relationship.”

Mondelez had a revenue of $25.92bn in 2016, less than $1bn of Kraft-Heinz's revenue.In the UK, and with Carbury, Carat will be looking to help the brand return to its "family roots" with its buying strategy and media placement.