Vending

Mondelez acquires snack maker Hu

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January 5, 2021

Mondelēz International has acquired Hu Master Holdings, the parent company of Hu Products, a U.S.-based snack maker, according to a press release.

Hu, which comes from the phrase "Get Back to Human," began 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, offering vegan and paleo-friendly chocolate bars.

The brand has become a category leader in premium chocolate in the U.S., and one of the fastest-growing confectionery brands in the natural channel.

Recently, Hu has broadened its offerings to include grain-free crackers and begun scaling its distribution to grocery stores nationwide. Mondelēz International made an initial minority investment in Hu in April 2019 through SnackFutures, its innovation and venture hub.

"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," Glen Walter, executive vice president and president, Mondelēz International North America, said in the release. "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."

Mondelēz International will operate Hu as a separate business that will continue to produce all products at current manufacturing facilities.

Financial terms of the deal were not disclosed.