Good afternoon. I'm not quite sure if it was the best idea to hand out our products before the session to get everybody in the room, but anyway, I hope you are enjoying some of our products while you listen to our presentation. Thank you, Andrew, for the very kind introduction, and thank you all for joining us. It's kinda great to be back in Florida in person. Today, we are pleased to provide an update on the execution and the results of our sustainable growth strategy. During our Investor Day in May, we rolled out the updated version after we introduced the first version of our strategy in 2018.
As you will see in a few minutes, we're making great progress by increasing our focus on the high growth categories of chocolate, biscuits, and baked snacks, accelerating our sales and marketing excellence, and reshaping our portfolio with growth accretive M&A. I'll start with a brief refresher on our strategic priorities as well as highlights of our recent performance. Our Chief Marketing and Sales Officer Martin Renaud will provide a deeper dive on our category growth strategy, followed by an exciting update on our marketing and sales transformation. Under Martin's leadership, our investments in marketing and sales are not only accelerating our growth, but also delivering improved efficiency and productivity, enabling a virtuous investment cycle in our brands.
After that, our Chief Financial Officer, Luca Zaramella, will share the latest developments in our portfolio reshaping, including an update on our growth accretive acquisitions, which are already delivering strong returns. We'll wrap up with some key takeaways before taking your questions. Maybe we get started. Since the launch of our strategy in 2018, we have consistently delivered against our long-term algorithm. By focusing on profit dollar growth, local first commercial execution, high return investments, and clearly defined incentives, we have step changed the company's growth trajectory. Over the past four years, we have delivered strong organic net revenue growth with a healthy mix of volume and price. We're reinvesting in the business to further accelerate our performance with high single-digit increases in advertising and consumer spend while delivering strong adjusted EPS growth and achieving or exceeding $3 billion in free cash flow every year.
Our focused growth strategy and ongoing cost discipline has resulted in strong, proven capital return. We continue to grow our dividends by double digits, and we have returned more than $17 billion to shareholders over the past four years. Our total shareholder return over the same time period stands at more than 16% compared to a peer average of about 11%. We are pleased but not satisfied with this performance, and we are confident that our future is even brighter. When we first launched the company, separating from Kraft Foods, we initially focused on cost transformation and improved margins. After embedding a culture of cost discipline, we successfully shifted our focus to step changing our top-line growth performance. Now, we are taking our performance to the next level by focusing our portfolio on the very attractive categories of chocolate, biscuits, and baked snacks and further accelerating our growth.
Last spring, we announced the evolution of this strategy. We continue to prioritize excellence in growth, execution, and culture. At the same time, we recognize that we must invest more in making our company more sustainable for both people and planet. That's why we have elevated sustainability to the fourth pillar within our strategy. In keeping with our focus and acceleration strategy, we also announced last spring that we have enhanced our long-term growth algorithm to 3%-5% organic net revenue growth. We are already delivering a strong performance against our refined strategy, consistent with our long-term algorithm. We believe the best is yet to come. We're confident in our future because we're confident in our consumers. Consumer research confirms that snacking is more and more prioritized over traditional meals. That demand for snacks is continuing to grow.
Our annual State of Snacking Report, conducted in partnership with the global consumer research firm, The Harris Poll, finds that 75% of people always make room for snacks in their grocery budget, even as the prices continue to rise. 60% of people expect to spend the same or more this year on cookies and chocolate as they spent in the previous year. In fact, 72% of people say they rely on affordable indulgences, like chocolate, to help them get through the day. Importantly, in snacking, consumers are very brand loyal, with 65% agreeing that they prefer brand names over private label products. We're playing in the right categories, and we are well-positioned to win. We currently hold a very close number 2 global position in chocolate with nearly 13% market share.
We have a clear number one global position in biscuits with 17% share. Additionally, our recent acquisitions have helped to solidify our strength in baked snacks, where we hold the number three global position in cakes and pastries with 3% market share and the number three global position in snack bars with 10% market share. Growth in these snacking categories has risen steadily over the past few years from just shy of 3% in 2018 to 10% last year. As we shared in our Investors Day, we're doubling down on these categories, chocolate, biscuit, and baked snacks, because they remain attractive, resilient, and durable in both developed and emerging markets. It's important to underscore that these categories still have significant headroom in both terms of penetration and per capita consumption.
Seeing the attractiveness of these categories, we have continuously reshaped our portfolio from approximately 60% core to 80% today. We are well on our way to generating 90% of revenue through these core categories. We are confident that focusing on these core categories will provide us a strong structural advantage. Over the last four years, chocolate, biscuit, and baked snacks have delivered consistently much stronger volume, net revenue, gross profit, and operating income than our other categories. With more focus and dedicated resources, we are confident that we can continue to take the company to a new level. In addition to our category focus, our geographical footprint offers a clear competitive advantage with strength in developed markets, combined with a broad exposure to rapidly growing and demographically favored emerging markets. More than one-third of our revenues come from emerging markets, growing nearly 11%.
It's important to note that all of our geographic regions are growing at or above our top-line algorithm. Another competitive advantage that fuels our confidence is the breadth and the depth of our commercial capabilities, including marketing, sales, and a customer-focused supply chain. I'm pleased to share that the supply chain challenges we experienced during the last couple of years are significantly improving with customer inventory back to the expected level across most of our portfolio. I'm even more pleased to share an update on our marketing and sales transformation, which is delivering strong ROI to further accelerate growth while deepening consumer loyalty to our beloved brands. In just a few minutes, Martin will take the stage to provide you with a deeper dive. Behind these strong improvements in growth and execution are our people. Their passion and dedication is the heartbeat of our company.
We firmly believe that the 91,000 bakers and makers around the world are the very best people in the CPG industry. We constantly strive to enhance our winning culture, motivating and inspiring them to deliver even greater value for our stakeholders. We are especially proud of our progress in diversity, equity, and inclusion, employee engagement, and our leadership pipeline. For example, we have reached 42% women in leadership, along with a more than 50% increase in Black management representation in the United States. To further improve our performance and be a destination for the best talent in CPG, we are continuing to invest in mentorship programs and diverse talent recruitment with a special focus on early careers. Employee satisfaction is also rising year-over-year.
Our employee engagement index stands at 79 today, well above the CPG benchmark, and we are investing in numerous employee well-being and flexible working initiatives. Additionally, we're focusing on rigorous succession planning. Nearly three-quarters of our general manager roles already have strong internal near-term successors. We're confident that we are building a strong next generation of leaders. The fourth and final pillar of our long-term growth strategy is sustainability. We believe that helping to drive positive change at scale is an integral part of our value creation, with positive returns for all our stakeholders. Our approach to sustainability is very simple. We aim to lead in the areas where we matter most, like sourcing our key ingredients and protecting human rights across our value chain, and to help drive change where the world needs it most, like reducing our carbon emissions and packaging waste.
For example, in December, we launched the next chapter of Cocoa Life, our signature cocoa sourcing program, with another $600 million investment through 2030, bringing our total investment in Cocoa Life to $1 billion. Cocoa Life aspires to help lift up the people and restore landscapes where cocoa grows. As part of this program, we are investing in expanding child labor monitoring and remediation systems in cocoa-growing communities, as well as helping to improve farm productivity and farmer incomes while working to combat deforestation. We also continue to make progress on our goals to tackle climate change with continued reductions in our carbon footprint and water usage.
Additionally, we are advancing our Light & Right packaging strategy with approximately 95% of our packaging designed to be recyclable. You can see, our unique growth strategy centered around acceleration and focus, powered by a winning culture and an ongoing commitment to sustainability is a powerful formula. We remain confident that we have the right strategy to continue navigating marketplace volatility, sorry, differentiating us from many other food companies. Continued momentum in emerging markets, combined with the resilience of our categories and consumers, is helping us offset the challenges that are faced in our sector, such as continuing global cost inflation, the energy crisis, recession concerns in Europe, and currency volatility. In particular, our China business is delivering strong results as mobility returns, while our U.S. supply chain is steadily improving.
We have successfully implemented appropriate price increases across key markets, including Europe, and consumers remain loyal to our beloved brands, which is underscored by our volume growth. Because we are successfully navigating this complex environment, we're able to continue increasing investment in brands and capabilities every year, further fueling our growth momentum. For these reasons, we are confident that we can continue to deliver robust earnings growth in both constant and real dollars. I'll close by reiterating the 5 key advantages that give us confidence that we can meet or exceed our long-term growth algorithm. First, our leadership in attractive, resilient categories like chocolate, biscuit, and baked snacks positions us well to benefit from growing consumer demands. Second, our advantaged geographical footprint with more than 1/3 of our revenue coming from high-growth emerging markets, which provides substantial room to grow.
Third, the enduring strength of our iconic beloved brands gives us substantial pricing power and enables us to build win-win partnerships with our customers. Fourth, our robust marketing and sales platform enables us to connect with our consumers and drive demand and accelerate profitable volume-driven growth. Finally, and perhaps most importantly, our winning culture enables us to attract and retain a deep, diverse bench of talent, the very best people in the CPG industry. With that, I'll ask one of those great people, Martin, to share some additional details on our focused category strategy, as well as the transformation of our marketing and sales execution platform. Martin?
Thank you, Dirk. I am pleased to be here today to share some exciting updates on progress since our Investor Day last May. I lead our marketing and sales organization, and in that role, my key focus is to accelerate growth via making the right choices in our core categories and via driving excellence in brand building and sales execution. Over the past few years, we have shifted our investment posture to higher spend levels on a focused portfolio of brands, and we have invested significantly in our capabilities. That strategy is paying off. Importantly, we are getting each time clearer on where to play and how to win in the future. Let me share a few highlights. What is first very exciting about Mondelēz International is our very strong right to win. We have a very strong suite of global billionaire brands.
For example, Oreo, the most loved biscuits brand in China and U.S. Ritz, the most popular cracker brand in the United States. Cadbury, the most loved chocolate brand in the U.K., India and Australia. CLIF, the most popular nutrition snack bar in the U.S. This is complemented by what we call local jewels, which are leading brands and the taste of the nation locally in many markets, like Lacta in Brazil, LU in France, and Kinh Do in Vietnam. Thanks to those brands, we already hold leading positions in our core categories in both developed and emerging markets. We are leading in one or two of our core categories in the key geographies. Let's now see how we are accelerating our growth on this great foundation. We will start with chocolate. At our Investor Day last May, we shared our big ambition to be number one in chocolate.
I am pleased to confirm that we are making great progress. We are already a strong number 2. We remain confident in our 3 strategic focus areas, accelerating our growth in tablets, winning in seasonals, gifting, and sharing, step changing our position in premium. Let me share a few highlights for our success in advancing each of these priorities. First, our tablets business is continuing to perform well, growing 2 times as fast as the market. Tablets remains the centerpiece of our chocolate franchise. We are more than 1/3 of this segment, more than 3 times the size of the number 2 player. We continue to lead this segment year after year. Our first priority is to deliver product superiority. We are constantly improving our recipes.
For example, our recent launch of the renovated Milka formulation, the creamiest, most tender Milka ever. We believe our new recipe is superior to the former one and to the main competitor, and the large activation plan around the new recipe is driving significant net revenue and share growth. We also are continuing to recruit new users in emerging markets via low unique price offerings while providing consumers with exciting new options in developed markets, including dark chocolate, vegan plant bar, and more indulgent flavors like more recently, caramel. Building on our leadership in tablets, we are significantly accelerating our performance in seasonals, gifting, and sharing, a very meaningful segment that already accounts for about 1/3 of the global chocolate category. This space is both expandable and incremental, and we have a very strong fit for iconic global and local brands.
We have a very clear plan to win, and we are pleased that our elevated focus is beginning to show solid share gains. Our teams continue to deliver excellent execution around key events for consumers and customers such as Easter and Diwali. As just one example, the Cadbury Easter egg that you see on the screen is part of an online activation that allows consumers to conduct virtual egg hunts with family and friends. In 2022, more than 700,000 consumers have been virtually hiding our iconic eggs in fun locations all over the world. We are continuing to develop and execute creative innovations in this space, making our seasonal products each time more iconic. In the sharing space, we are relaunching and rolling out our treat sizes favorites proposition, which is leading the segment in Australia.
The third driver of our growth in chocolate is a premium segment. Premium is a very attractive space, growing faster than mainstream chocolate, and we are significantly accelerating our focus on it. Many of you will recall, I shared the launch of our updated Toblerone positioning at Investor Day. Since our relaunch in the UK, we have gained one point in share, and we're also seeing a strong rebound in the world travel retail, which has almost doubled. We are further strengthening the Toblerone portfolio with additional offerings to meet consumers' growing demand for innovative premium options, including pralines and personalized gifts. At the same time, in India, we're doubling down on the Silk brand, a mass premium product, continuing to renovate the core and activate exciting consumer touchpoints while launching key innovations like ganache and brownie.
This is part of a very successful up-trading strategy after recruiting new consumers via our mainstream product brand, Cadbury Dairy Milk. We have already doubled the household penetration and increased distribution by half a million stores, delivering significant growth versus previous year. We believe Silk still has substantial headroom for growth. Moving to biscuits. As we shared at Investor Day, our ambition in this space is not only to accelerate our leading position in biscuits, but also to be number one in our new prioritized adjacencies. Similar to our approach to chocolate category, we are focusing on specific strategies to leverage our current portfolio while building new capabilities. We are already winning in Oreo and Chocobakery, and we are driving both areas even harder to continue widening our lead.
At the same time, we are stepping up in the attractive cake, pastries, and snack bar segments where we see substantial growth opportunity. Let's take a closer look at our progress. Oreo remains an incredible success story. Oreo is already the world's favorite cookie. It continues to solidify its position. We passed the $4 billion sales milestone in 2022. We still have lots of room to run. We are focused on relentlessly growing our penetration through sustained investments in media and outstanding creative excellence while driving distribution in both existing and new channels. We are also continuing to excel in keeping the brand contemporary with locally and culturally relevant activations aligned with the trends, like our partnerships with K-pop sensation BLACKPINK.
We innovate with precision to meet new and emerging consumer trends all around the world through distinct products as Oreo Gluten Free, as well as stretching into cakes. Our second area of focus is Chocobakery, a highly attractive segment that is growing fast and where we have unique advantages as our leading brands in chocolate and biscuits converge. Milka has been an incredible success story in this space, where we are rolling out our proven products across Europe. In 2022, it grew again double digits, driven by hero products like wafer or chip cookies filled with chocolate. Building on this success, we are now expanding with our other chocolate brands and in new geographies. For Cadbury, we're investing behind a simplified biscuit portfolio in the U.K., whilst building scale in emerging markets like India. We're also renovating Lacta biscuits in Brazil.
In select markets where we do not have a chocolate presence, like China and the U.S., we are building and leading the Choco Bakery segment behind our Chips Ahoy! franchise with great results. Chips Ahoy grew 6% in volumes in 2022, and double digits in net revenue, reaching more than $1.1 billion. Our third focus area is stepping up our presence in cakes and pastries by leveraging both our heritage brands, like LU, and our strategic acquisitions. For example, Give & Go has given us access to a totally new high-growth shelf in the U.S., while 7DAYS has a strong foothold in Europe, and we are beginning to expand these great brands geographically. We're confident that we will achieve the number one position in this exciting space.
Our fourth and final focus area is snack bars, a growing segment where we have stepped our presence through acquisition and now stand as number three. We have now a very solid portfolio of winning brands in key sub-segments, and we are accelerating our growth in home markets and start evaluating international expansion, and we are confident to have a long runway. As you have just seen, we are making great progress against our strategy of increased focus on higher growth core categories. Building upon this very clear category strategy, we are also obsessed with driving demand, accelerating our sales and marketing excellence to help our customer partners grow their categories and take our amazing brands to the next level. Let's take a closer look at our approach and results to date.
We have the world's best snacking brands. Over the past few years, we have substantially transformed our marketing and sales approach to strengthen them and accelerate their demands. Let's take a closer look at our transformation progress. We have first put the consumers and the shopper at the center and totally modernized our consumer research and insights to deeply understand our categories, embracing fully analytics. We have totally changed the way we do advertising to be much more engaging and accelerating fully digital media, leading in the personalization of our assets, bringing the great purposes of our brands to life. We have shifted our investment posture to higher spend levels on a larger but still very focused portfolio of brands, being very rigorous to drive both efficiency and effectiveness to drive significant return on investment increases.
We have also been relaunching our sales approach, recommitting to build stronger relationships with our customers across the world, and expanding availability of our products across channels. Finally, we have significantly redesigned our organizations to be local first, closer to our consumers and customers, while totally redefining how we work with our partners to equip our business units across the world with the best capabilities and accelerate their digital transformation. We have, in particular, totally redesigned our agency model from hundreds of agencies across the world for creative, media, and production to 2 main networks, fully integrated. Since launching our transformation barely 4 years ago, we are already seeing very strong results. Since 2019, product superiority ratings are up 7 points.
In 2022, 86% of our recipes were superior to competition, a very high score, of which we are very proud, especially because taste is paramount in our categories. Our media return on investments have been growing more than one-third. We are now top tier in 75% of our business units. We have increased our media investments double digits, which allows us to strengthen our brands. In the last years, 80% of our brands are growing or holding equity. Finally, we have strengthened our relationship with our key customers and gained more than $1 billion point of sales. We are very proud of these results, and we are confident that we can drive them even higher going forward. To further accelerate our transformation, we are focused on four key areas.
First, fueling our focused portfolio of best-in-class brands with modern and personalized creatives. Driving superior presence across channels with digital-powered on-shelf availability and visibility. Advancing revenue growth management with increasingly sophisticated tools to maximize revenue per kilo. Continuing to grow and develop the next generation of leaders to future-fit our team and capabilities. Let's take a closer look at our progress in each area. First, we are obsessed with elevating the quality of our advertising to drive further effectiveness and turbocharge our brand building. We have put a lot of rigor to make sure our advertising was more impactful. In the last four years, our creative effectiveness was up more than 18 points through our pre-testing methodologies, and now more than 60% of our assets are what we call Iconic Plus.
We are leading an increased personalization of our digital media assets, such as the recent Cadbury campaign in India, shown here, that produced customized messages from one of the country's leading film stars. Today at Mondelēz, close to 40% of our digital media is personalized with an ROI which is 30% higher than non-personalized assets. We're also continuously increasing the cultural relevance of our key brands by building strong partnerships such as the Batman movie or key pop sensation Blackpink for Oreo, as mentioned earlier. Our brands are central in the lives of our consumers, and we are capturing these unique human emotions to connect better with them. To build very strong purpose-led brands, we have developed a very unique approach, which is working very well and making our marketers very proud. Cadbury is a great example on how we build brands at Mondelēz International.
As you will see in the following short clip, we are unlocking growth in Cadbury by doubling down on its purpose, sharing generosity, and bringing people together. As you have just seen, we are getting stronger and stronger at building even closer connections with consumers around the world. Building on this, we are increasing the fuel behind our brands to drive mental availability. At the same time, the increased discipline and rigor that we are applying to our marketing, sales, and creative is delivering strong returns, fueling even greater growth going forward. We have made significant increase in our media investment over the last couple of years and plan to continue to do so, focusing on our priority brands. We are committed to continue to drive our ROIs to the next level.
We are working hard on all drivers to make that happen, rigorous media buying, acceleration of digital, and better advertising. As our turbocharged media investment fuel demand, we are also accelerating availability and visibility across all channels, helping to deliver a win-win for our customers. We continue rapidly expanding distribution in emerging markets while partnering with our developed market customers to ensure that prioritize our brands with strong in-store execution. To take our performance to the next level, we are digitalizing our sales force to enable even more precise customer targeting and delivery. For example, more than 1 million stores around the globe now have access to our automated intelligence-enabled suggested order function, which frees up our reps to engage 45% more time in robust selling rather than administrative tasks. As a result, we are now increasing from 3% to 5% more revenue per sales call.
We have developed a proprietary tool to measure the quality of our point of sale materials, allowing us to increase the impact on our sales significantly. We are also increasing our focus on digital commerce. Our share of revenue from digital channels has doubled in the past three years, and we expect it to grow even faster going forward, reaching 20% of net revenue by 2030. Our digital flywheel approach is fueling our retail omni-channel sales, and we are improving our execution year-over-year behind all the key sales drivers: search content, right format. When well executed, we see that we can drive up to 10-15% incrementality versus offline only in a profitable way. We're also continuing to accelerate e-business-to-business opportunities to drive growth in underserved outlets in traditional trade and new channels.
Here, the incrementality can go from more than 15% when activating more sales via our own platform within our existing customers to 100% when it opens fully new points of distribution. In Brazil, for example, we have been able to open 100,000 new customers via e-business partnerships. With strengthening our digital capabilities, we are upgrading our revenue growth management expertise around the world. You will recall from our Investor Day that RGM has become a fundamental part of our strategy. We are seeing strong results in markets like Brazil, where the net revenue per kilo continues growing and where RGM plays a central role in unlocking value.
Building upon that success, we continue investing in increased RGM expertise, tools, and training to equip our teams to use all the levers available to drive top and bottom line, including price pack architecture, promotion management, driving trade terms, and managing mix. We're excited about the promise of these increased capabilities. Finally, to deliver all the above and be future-ready, we are continuing our investments to build our capabilities and infrastructure and drive the opportunities of digitalizations in all the key areas that can accelerate demand. We are training our teams, bringing new expertise when needed, and rolling out the best tools with speed. We continue upgrading the breadth, depth, and sophistication of insights and analytics capabilities, ramping up the performance and efficiency of our global centers of excellence to fuel our local teams in driving sales and share in their own markets.
As you can see, our marketing and sales transformation is delivering great results. The combination of our iconic beloved brands with our very focused, deliberate, and effective marketing and sales platform is truly a winning formula. We are pleased but not satisfied that our marketing transformation is already yielding increased ROI and higher market share. We believe this is just the beginning, and we're excited about the opportunity to deliver even stronger sustainable growth. With that, I will turn it over to Luca. Thank you.
Thank you, Martin. As you have heard, actively reshaping our portfolio is an integral part of our strategy. Becoming a more focused chocolate and biscuit company is going to accelerate our top and bottom line growth, resulting in better and higher returns for our shareholders. Since 2018, we have made nine strategic acquisitions, adding nearly $3 billion in revenue with high single or double-digit growth. Our framework around M&A is very straightforward. We are targeting growth accretive assets that meet key consumer needs and fill portfolio gaps, both from a category standpoint and geographically. Clearly, we favor chocolate and biscuit assets, but in emerging markets, we do not lose sight of the advantage that scale and route to market can bring. A disciplined financial approach is also an integral part of our thought process. We strive for returns well in excess of our cost of capital.
Earn-outs and equity rollovers complement the model where we feel retaining talent is critical and where premiums are linked to future achievements. Driving value through strong integration and synergies both on top and bottom lines is the second cornerstone. Becoming an integration machine is what we strive for. This implies, as one example, putting these new platforms on systems like SAP to take advantage of procurement synergies. Third, accelerate growth by leveraging our competitive advantage, including our global footprint, distribution muscle, supply chain, marketing excellence, and financial discipline to create significant long-term value. Fourth, we will exit non-core positions where it makes sense to redeploy capital and talent to chocolate and biscuits. Since 2018, our acquisition strategy has enabled us to enter exciting spaces such as well-being and premium, in addition to strengthening our presence in key geographies.
In many cases, we have expanded our presence in adjacencies like baked snacks with acquisitions such as Chipita, CLIF, Grenade, Perfect Snacks, and Give & Go. Let's review the performance of some of our larger acquisitions and the opportunity ahead for our most recent transactions. Tate was our first acquisition under our current strategy and is a great example of making a formidable franchise even better. Tate provide an entry into the premium cookie segment with authentic craft cookies that have strong consumer loyalty. In the 4 years since the close, Tate has more than doubled revenues. We have also doubled distribution, extending retail coverage by more than 40% and decreased premium cookie share by 4 points by leveraging the strength of our DSD system.
Looking ahead, this brand has a lot of potential, including more distribution points, new products such as Cookie Bark and vegan, and growing the platform in baked snacks or Chocobakery. Turning to Give & Go, a leading in-store bakery acquired in 2019. Give & Go is a leader in bite-sized cakes and pastries, playing in an expanding area of the store with a significant point of differentiation. These are delicious, visually stunning products that appeal to a variety of consumers. The business has averaged more than 20% revenue growth over the past two years, surpassing $700 million in sales with a lot of great momentum. Mondelēz has provided capital to increase capacity for leading innovation platforms, and the results are very strong.
Growing more than twice the rate of the market, increasing household penetration by over 20%, successfully entering new adjacencies, such as donuts and mini snacks cakes. We are also focused on large cost synergies, including automation and line efficiencies and G&A discipline. In fact, EBITDA margins are sound. We have also leveraged our portfolio of iconic brands such as Oreo and Chips Ahoy! to drive incremental revenue and differentiation. On to another baked snacks acquisition, Chipita. Chipita is a high growth cakes and pastry platforms with nearly $700 million in revenue. The 7DAYS brand has a leading market position in Europe with an attractive footprint skewed towards emerging markets. It also offers scale to leverage other Mondelēz brands and expand distribution into new market. We closed Chipita early last year and fully integrated it within six months, posting double-digit revenue growth in 2022.
This year we expect to expand our geographic footprint and unlock cost synergies, including line automation, network optimization, waste reduction, and media efficiencies. Let's move to CLIF, a leader in the large and attractive U.S. snack bar category. CLIF grew double digits in 2022, crossing $800 million in revenue and delivering a three-year CAGR of nearly 9% in retail revenue. We expect significant top-line synergies, including deeper distribution and channel expansion in club, convenience, and e-com, while refocusing on our core portfolio items. There are also large opportunities to improve velocities, build RGM capabilities, and drive international expansion in large developed markets where we believe the brand can travel very well. Benefits are not limited to top line. There are also significant cost synergies in the areas of procurement, line efficiencies, broker commissions, logistics, and warehousing.
Finally, on G&A savings, we can reduce non-working media and remove other administrative costs. Since close last summer, we have been making strong progress on our integration and value creation agenda. The P&L from both a top and a bottom-line perspective is up quite nicely versus previous years. Of note, we are moving very fast. Decisions including a new organization design, a new leadership team, additional price implementation, consolidating brokers, and doing system integration work is already underway. Next, let's turn to Ricolino, which doubles our size in Mexico, a key priority market for us and Latin America. These iconic, widely loved brands and candy bars has still tremendous growth potential, both in Mexico and in the U.S., where they appeal to a large and growing cohort.
A strong route to market, including more than 2,100 DSD routes and 440,000 traditional trade outlets, will enable us to rapidly expand our share in biscuits and chocolate while accelerating our entry into cakes and pastries. Ricolino delivered strong results in 2022, growing double digits. Integration is off to a good start, and Mexico and Latin America teams are very energized about the opportunity ahead. Our portfolio reshaping effects are not limited to addition, but also exiting businesses that do not fit on our focused view of snacking. We announced in late 2022 the sale of our developed market gum business to Perfetti for $1.35 billion, which represents a good value for our shareholders.
When completed, this divestiture will help improve our focus, better leverage resources, and fund these recent acquisitions, while EPS dilution will be modest and fully offset in year two or three. We have been making real strides in our few years, putting the company on a good revenue and earnings growth trajectory by establishing a virtual cycle of top-line growth, earnings, volume, and reinvestment. Underpinning these results is our chocolate and biscuit business growth, combined with the addition of nearly $3 billion of growth accretive assets that have very attractive profit pools. We are focused on continuing to raise our game in terms of day-to-day execution, as we believe there is significant untapped potential in our existing businesses. In terms of our current outlook, there is no change from what we discussed with you on our year-end earnings call.
Our final thoughts for you are that the company is well positioned for the future. We believe our global strength in attractive categories provide a large runway of growth opportunities. A high-performance culture and attractive growth algorithm will enable us to compound substantial growth and earnings over a multi-year period. Thank you for your time.
Perfect. Thanks very much. We're gonna have to leave it there. We'll take questions in the breakout and join me in thanking Mondelēz for the break.