Mondelez, the US confectionery, food, and beverage multinational, has announced that it has made a minority investment in Hu Master Holdings, the owner of both Hu Products and Hu Kitchen, described as a fast-growing US-based snacking company.
Hu is described as making minimally-processed, paleo-inspired foods with simple, real ingredients and was created by siblings Jason H Karp, Jordan Brown and Jessica Karp in 2012. The firm’s product line includes chocolate, coffee and grain-free crackers.
Mondelez said the deal was the second venture investment it was making as part of its SnackFutures innovation and venture hub, adding that it falls into two of SnackFutures high-growth strategic priorities: well-being and premium.
Tim Cofer, executive vice president and chief growth officer at Mondelez, commented: “As the global snacking leader, we’re on a mission to lead the future of snacking and push the boundaries of what’s possible. Investing in Hu offers our company an opportunity to do exactly that”.
Source: Mondelez / Hu