Mondelez International Inc. announced it has acquired healthy snack and paleo chocolate maker Hu Master Holdings, according to an earlier report in the Wall Street Journal. Terms of the deal were not disclosed, but Mondelez said the deal comes after a 2019 minority investment granted it a right of first offer to acquire the company. The Wall Street Journal said the deal values Hu at more than USD250m.
Mondelez has been investing in healthy brands as consumers’ eating habits shift, adding brands like Tate’s and Perfect Snacks to its portfolio.
Hu, founded in 2012, makes vegan, paleo-friendly chocolate bars made with organic cocoa and has a devoted following among consumers.