Big things are happening over at Mondelēz International. The company is aiming to take over the snacking sector, recently acquiring U.S.-based Hu Master Holdings, the parent company of Hu Products. The popular brand has an especially prominent presence in the confectionary sector, and is sure to open new doors for Mondelēz. Financial terms of this transaction have not been disclosed.
“Hu is a strong, strategic complement to our snacking portfolio in North America,” said Glen Walter, EVP and President of 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 e-commerce 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.”
According to StreetInsider.com, the name Hu comes from the phrase “Get Back to Human,” which is one of the brand’s central values. The family business blew up when Hu released its vegan and paleo-friendly chocolate bars that put an emphasis on high-quality ingredients. As the company has continued to scale up production, it has also released products like grain-free crackers.
Hu is expected to operate as part of Mondelēz’s North American Ventures business as it continues to dominate the U.S. confections category. The company will operate as a separate business in order to support Hu’s organic growth and focus on ethical operations. Hu will maintain its current manufacturing facilities, and senior leadership will have the opportunity to stay on with the company.
“Jordan, Jessica, and I started Hu Kitchen because there was a need to trust and understand every ingredient in our food,” said Jason H. Karp, Chairman and Co-Founder of Hu. “Eight years ago, we felt there was a need for delicious food that could change how you feel and compliment a healthier lifestyle. Mondelēz International has been our minority partner for almost two years, and we are excited to fully join their family of brands because we believe their resources, strengths, and progressive vision can help us accelerate positive change within snacking and grow the Hu platform in a bigger and broader way.”
Jordan Brown, Co-Founder of Hu, also commented on how this acquisition will drive growth for the brand.
“What an incredible journey this has been, and it’s only just beginning,” said Brown. “We are thrilled to join Mondelēz International’s family of iconic brands and cannot wait to further expand our ‘Get Back To Human’ concept to new audiences.”
We at Deli Market News can’t wait to see how this acquisition fosters growth for the two companies, so keep an eye out for our reports and you won’t miss a beat.