Mondelēz International has announced an investment in Hu, a paleo-inspired food firm based in New York.
The snacking giant announced the investment as part of its SnackFutures venture hub.
Hu, which incorporates Hu Products and Hu Kitchen, produces minimally-processed snack products, such as its award-winning vegan chocolate range.
It was founded in 2012 by by Jason H. Karp and siblings Jordan Brown and Jessica (Brown) Karp.
Future Of Snacking
“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,” commented 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. And, with an in-house test kitchen and insights lab, they have a unique ability to quickly test and learn.”
Commenting on Mondelēz' investment, Jason Karp said that the company believes the "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 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.
