Snack and confectionery multinational Mondelez has announced the acquisition of Hu Master Holding, a US-based snack company.
In 2019, Mondelez made a minority investment in Hu through its SnackFutures division.
Hu is a family business founded in 2012 that has become a category leader in premium chocolate bars with a portfolio of products that includes snacking and 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 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.
Financial terms of the deal have not been disclosed.