Mondelez to Buy Control of Vietnamese Snack-Food Business

Mondelez International Inc. plans to pay $370 million for control of a Vietnamese snack-food business to further its expansion in emerging markets as U.S. demand for its cookies and candy drags.

The funds will give the maker of Chips Ahoy cookies and Triscuit crackers an 80% stake in the snacks business of Kinh Do Corp., which produces mooncakes, crackers and other baked goods, Mondelez plans to announce on Tuesday. Mondelez said the…