Mondelēz International has announced it has made a minority investment in Hu Master Holdings, the parent company of both Hu Products and Hu Kitchen.
Hu Master Holdings is a fast-growing US-based snacking company offering minimally processed, high-quality snacks.
The move marks the second venture investment Mondelēz has made under its SnackFutures innovation hub.
According to the group, the investment falls into two of SnackFutures’ high-growth strategic priorities: well-being and premium.
“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,” said Tim Cofer, Executive Vice President and Chief Growth Officer of Mondelēz International.
“The Hu brand sits at the convergence of key growing consumer trends. Building on its initial success in chocolate, we believe there’s an exciting opportunity to continue expanding the Hu proposition into a broad health-focused snacking platform across categories.”
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, developing into a premium, multi-SKU brand portfolio of wellness-focused, vegan/paleo-friendly snacking products with a devoted following.
“Jordan, Jessica and I started Hu because we wanted a place where we could trust and understand every ingredient in our food,” said Jason H. Karp, Chairman and Co-Founder of Hu.
“We chose Mondelēz International as a minority investor because we believe their resources, strengths and progressive vision of SnackFutures can help us accelerate positive change within snacking.
“This partnership should allow the Hu platform to grow and reach more people in a better and broader way than on our own.”
© 2019 Checkout – your source for the latest Irish retail news. Article by Aidan O’Sullivan. Click sign-up to subscribe to Checkout.