Snack and confectionery multinational Mondelez has announced the acquisition of Hu Master Holding, a fast-growing US-based snacking company.
In 2019, Mondelez made a minority investment in Hu through SnackFutures.
Hu is a family business founded in 2012 and has become a category leader in premium chocolate bars with a portfolio of products that includes snacking + baking chocolates, chocolate-covered nuts and berries, and grain-free crackers.
“Hu is a strong strategic complement to our snacking portfolio in North America,” commented on the acquisition Glen Walter, EVP & President, Mondelez 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 are thrilled to join Mondelēz International’s family of iconic brands and cannot wait to further expand our ‘Get Back To Human’ concept to new audiences,” said Jordan Brown, co-founder of Hu.
The financial term of the deal has not been disclosed.
Source: Mondelez press release