Mondelez posted better-than-anticipated quarterly earnings, with a revenue spike of 13.5% in Q4, thanks in part to “good momentum” in geographies like Canada.

The maker of Oreo cookies and Cadbury chocolate is reporting that North America grew 12.3% for the full-year and 19.5% for the quarter.

Accrued marketing was up year-over-year to $2.37 billion from $2.1 billion in 2021. Dirk Van de Put, CEO, said in an earnings call that Mondelez is going to significantly invest in its brands to bolster its bottom line.

“We increased A&C investment by double-digits, helping to keep our brand top of mind for both consumers and customers,” he says.

He says the company had a “record year,” and includes Oreo surpassing the $4 billion dollar mark in global net revenue. The company’s performance overall it says is a result of streamlining its portfolio.

“We made significant progress against our strategy of accelerating growth and focusing our portfolio in the attractive, resilient categories of chocolate, biscuits and baked snacks, while continuing to invest in our brands and capabilities,” says Van de Put.

Chocolate grew more than 10% for both the year and quarter for brands such as Cadbury, Milka and Toblerone. Mondelez’ acquisitions of Chipita and Clif Bar also helped expand the company’s footprint in the growing Baked Snacks segment.

According to Luca Zaramella, the company’s EVP and CFO, Biscuits grew 11.7% for the year and 18% for the quarter, “supported by significant volume growth.” Oreo, Ritz and Chips Ahoy! were among the brands that performed very well.

Gum and candy grew 25% for the year and the quarter. However, Mondelez has an agreement with Perfetti Van Melle to divest its developed markets gum business, including brands like Dentyne and Trident in the U.S., Canada and Europe. The deal is expected to close in Q4 2023.