Mondelez International has acquired Hu Master Holdings, the parent company of Hu Products, a fast-growing U.S.-based healthy snacks maker.
Mondelez made a minority investment in the company in 2019 through its SnackFutures innovation arm launched in 2918.
“Hu is a strong strategic complement to our snacking portfolio in North America,” says Glen Walter, EVP and 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.”
Joining other fast-growing premium and wellbeing snack brands, including Tate’s and Perfect Snacks, Hu will operate as part of the North American Ventures business model and remain focused on its core mission of delivering ultra-high-quality chocolate and snacks with strict ingredient and sourcing guardrails. As such, Mondelēz International will operate Hu as a separate business to nurture its entrepreneurial spirit and maintain the authenticity of the brand and culture, while providing resources to help accelerate Hu’s growth. Hu will continue to produce all products at current manufacturing facilities.