Press release
Mondelēz International Acquires Hu, A Well-being Snacking Company
Premium, well-being brand platform founded on simple ingredients, provides cross-category growth opportunities in snackingTransaction follows April 2019
About this update from Mondelez International, Inc.
[{"type":"text","content":"Premium, well-being brand platform founded on simple ingredients, provides cross-category growth opportunities in snackingTransaction follows April 2019 minority investment through SnackFutures innovation hub CHICAGO, Jan. 05, 2021 (GLOBE NEWSWIRE) -- Mondelēz International (NASDAQ: MDLZ) today announced it has acquired Hu (as in “Human”) Master Holdings, the parent company of Hu Products, a fast-growing US-based snacking company offering high-quality snacks made from simple ingredients. Hu, which comes from the phrase “Get Back to Human”, is a purpose-led lifestyle brand with a devoted fan base. Founded in 2012 as a family business by Jason H. Karp and siblings Jordan Brown and Jessica (Brown) Karp, Hu began as Hu Kitchen in New York City, a high-end restaurant and market focused on delicious foods with simple, real ingredients. The company went on to expand its award-winning vegan and paleo-friendly chocolate bars, which follow a strict set of Ultrasimple™ ingredient guardrails and sourcing practices. Hu’s chocolate was inspired by the paleo movement and developed by the founding family. The brand has become a category leader in premium chocolate in the United States, and one of the fastest-growing confectionery brands in the natural channel. Recently, Hu has broadened its offerings to include premium, grain-free crackers and begun scaling its distribution to grocery stores nationwide. Mondelēz International made an initial minority investment in Hu in April 2019 through SnackFutures, its innovation and venture hub dedicated to unlocking emerging snacking opportunities. “Hu is a strong strategic complement to our snacking portfolio in North America,” said Glen Walter, EVP & President, Mondelēz International North America. “This well-being brand platform provides further growth opportunities in chocolate, cross-category potential in crackers, as well as meaningful opportunities to expand distribution including in eCommerce and premium conventional retail. We’ve been very impressed with the Hu management team as a minority investor and look forward to working with Jordan Brown and Mark Ramadan and the rest of the Hu team to provide support and resources for the brand’s next chapter of growth.” “Jordan, Jessica and I started Hu Kitchen because there was a need to trust and understand every ingredient in our food,” said Jason H. K...