Mondelēz International has announced it made a minority investment in Hu Master Holdings, the parent company of both Hu Products and Hu Kitchen, a fast-growing US-based snacking company offering minimally processed, high-quality snacks.
This is the second venture investment Mondelēz International is making as part of SnackFutures, its innovation and venture hub aimed at unlocking snacking growth opportunities around the world, the group says. This investment falls into two of SnackFutures’ high-growth strategic priorities: well-being and premium.
Hu was founded in 2012 as a family business and began as Hu Kitchen in New York City, a high-end kitchen and market focused on delicious, paleo-inspired foods with simple ingredients. Its ranges include grain-free crackers and husks based snacks. The Hu Kitchen market section quickly became a proof-of-concept CPG testing ground, prompting the company to expand its medal-winning, vegan and paleo-friendly chocolate products (free of refined sugar, soy, dairy, and gluten). Today, Hu has developed into a premium, multi-SKU brand portfolio of wellness-focused, vegan/paleo-friendly snacking products with a devoted following.
“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. 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. And, with an in-house test kitchen and insights lab, they have a unique ability to quickly test and learn,” said Tim Cofer, executive vice president and chief growth officer of Mondelēz International.