{"id":408461,"date":"2021-01-05T08:08:22","date_gmt":"2021-01-05T13:08:22","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=408461"},"modified":"2021-01-05T08:08:22","modified_gmt":"2021-01-05T13:08:22","slug":"mondelez-international-acquires-hu-a-well-being-snacking-company","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/mondelez-international-acquires-hu-a-well-being-snacking-company\/","title":{"rendered":"Mondel\u0113z International Acquires Hu,\u00a0A Well-being Snacking Company"},"content":{"rendered":"<div class=\"mw_release\">\n<ul>\n<li>Premium, well-being brand platform founded on simple ingredients, provides cross-category growth opportunities in snacking<\/li>\n<li>Transaction follows April 2019 minority investment through SnackFutures innovation hub<\/li>\n<\/ul>\n<p align=\"left\">CHICAGO, Jan.  05, 2021  (GLOBE NEWSWIRE) &#8212; Mondel\u0113z International (NASDAQ: MDLZ) today announced it has acquired Hu (as in \u201cHuman\u201d) Master Holdings, the parent company of Hu Products, a fast-growing US-based snacking company offering high-quality snacks made from simple ingredients. <\/p>\n<p align=\"left\">Hu, which comes from the phrase \u201cGet Back to Human\u201d, is a purpose-led lifestyle brand with a devoted fan base. Founded 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, a high-end restaurant and market focused on delicious foods with simple, real ingredients. The company went on to expand its award-winning vegan and paleo-friendly chocolate bars, which follow a strict set of Ultrasimple\u2122 ingredient guardrails and sourcing practices. Hu\u2019s chocolate was inspired by the paleo movement and developed by the founding family. <\/p>\n<p align=\"left\">The brand has become a category leader in premium chocolate in the United States, and one of the fastest-growing confectionery brands in the natural channel. Recently, Hu has broadened its offerings to include premium, grain-free crackers and begun scaling its distribution to grocery stores nationwide. Mondel\u0113z International made an initial minority investment in Hu in April 2019 through SnackFutures, its innovation and venture hub dedicated to unlocking emerging snacking opportunities. <\/p>\n<p align=\"left\">\u201cHu is a strong strategic complement to our snacking portfolio in North America,\u201d said Glen Walter, EVP &amp; President, Mondel\u0113z International North America. \u201cThis 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 eCommerce and premium conventional retail. We\u2019ve 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\u2019s next chapter of growth.\u201d <\/p>\n<p align=\"left\">\u201cJordan, Jessica and I started Hu Kitchen because there was a need to trust and understand every ingredient in our food,\u201d said Jason H. Karp, Chairman and Co-Founder of Hu. \u201cEight years ago, we felt there was a need for delicious food that could change how you feel and compliment a healthier lifestyle. Mondel\u0113z 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.\u201d<\/p>\n<p align=\"left\">\u201cWhat an incredible journey this has been, and it\u2019s only just beginning,\u201d said Jordan Brown, Co-Founder of Hu. \u201cWe are thrilled to join Mondel\u0113z International\u2019s family of iconic brands and cannot wait to further expand our \u2018Get Back To Human\u2019 concept to new audiences.\u201d<\/p>\n<p align=\"left\">Joining other fast-growing premium and well-being snack brands, including <em>Tate\u2019s<\/em> and <em>Perfect Snacks<\/em>, Hu will operate as part of the North American Ventures business model and remain focused on its core mission of delivering ultra-high-quality chocolate and snacks with strict ingredient and sourcing guardrails. As such, Mondel\u0113z International will operate Hu as a separate business to nurture its entrepreneurial spirit and maintain the authenticity of the brand and culture, while providing resources to help accelerate Hu\u2019s growth. Hu will continue to produce all products at current manufacturing facilities. Hu senior leadership will receive a contingent payment based on future performance of the company.<\/p>\n<p align=\"left\">In 2019, Hu hired experienced entrepreneur Mark Ramadan, co-founder and former CEO of Sir Kensington\u2019s, as CEO. During Ramadan\u2019s tenure he has focused on enhancing the purpose and values of the company and set the pathway for continued sales growth.<\/p>\n<p align=\"left\">Mondel\u0113z International\u2019s 2019 minority investment in Hu granted a right of first offer to acquire the company. Following a competitive bid for Hu, Mondel\u0113z International successfully acquired 100 percent ownership of the brand.\u00a0The acquisition closed on January 4, 2021.\u00a0Financial terms of the deal were not disclosed.<\/p>\n<p><strong>About Mondel\u0113z International<\/strong><br \/>Mondel\u0113z International, Inc. (NASDAQ: MDLZ) empowers people to snack right in over 150 countries around the world. With 2019 net revenues of approximately $26 billion, MDLZ is leading the future of snacking with iconic global and local brands such as <em>OREO, belVita<\/em> and <em>LU <\/em>biscuits; <em>Cadbury Dairy Milk, Milka <\/em>and <em>Toblerone <\/em>chocolate; <em>Sour Patch Kids<\/em> candy and <em>Trident <\/em>gum. Mondel\u0113z International is a proud member of the Standard and Poor\u2019s 500, Nasdaq 100 and Dow Jones Sustainability Index. Visit <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=fm7EKQXEiBAprFXCgKj_jKfHea-KkKG4fzFe40cK2oAPgmcejaOvwRWpr4IACxkVUi2hWSrXFF0IibxwScjiaunqnNRgmJW7HnMGO9QlZD-iJIFsXNaC15nSlFEh3caO\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.mondelezinternational.com<\/a> or follow the company on Twitter at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=bmmrlYfN_gTa59VpC-DTH7bld6ZCeYBotznlO0xOip_0PlSyIEiacBFSLTyEkJZm1lkJQcTlFFQQhK8z4H1CMwITYFtCEWrPImdVmgtUYBg=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.twitter.com\/MDLZ<\/a>.<\/p>\n<p align=\"left\">\n        <strong>About Hu<\/strong><br \/>\n        <br \/>Hu Products (pronounced \u201cHue\u201d as in human) is one of the fastest-growing snacking companies in the U.S. with a strict focus on Ultrasimple\u2122 ingredients. It has been recognized with various gold, silver and bronze medals in the \u201c2019 Best Vegan Chocolate Awards.\u201d In addition to its popular Chocolate bars, Hu\u2019s full product range includes snacking + baking chocolate (\u201cGems\u201d), chocolate-covered nuts and berries (\u201cHunks\u201d), and Grain-free Crackers. More information about Hu and \u201cGet Back to Human\u201d is available at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=x2ttofuLyQyR3ZLaFrHmxJJKKNcULJdINvo707UduAXlFwFd1ABkqIpQC-VoYqhH4Ma3vxOfl05pb3eQiEL1qw==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.hukitchen.com<\/a>.<\/p>\n<p><strong>Forward-Looking Statements<\/strong><br \/>This press release contains forward-looking statements. Words, and variations of words, such as \u201cwill,\u201d \u201cmay,\u201d \u201cexpect,\u201d \u201cintend\u201d, \u201cpotential\u201d and similar expressions are intended to identify these forward-looking statements, including, but not limited to, statements about the expected results of the transaction and the future prospects for the Hu business. These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond Mondel\u0113z International\u2019s control, which could cause Mondel\u0113z International\u2019s actual results to differ materially from those indicated in these forward-looking statements. Please also see Mondel\u0113z International\u2019s risk factors, as they may be amended from time to time, set forth in its filings with the U.S. Securities and Exchange Commission, including its most recently filed Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Mondel\u0113z International disclaims and does not undertake any obligation to update or revise any forward-looking statement in this press release, except as required by applicable law or regulation.<\/p>\n<table style=\"border-collapse: collapse;float:left;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"max-width:20%;width:20%;min-width:20%;text-align: left;vertical-align: middle;vertical-align: top\">\n            <strong>Contact:<\/strong>\n          <\/td>\n<td style=\"max-width:80%;width:80%;min-width:80%;text-align: left;vertical-align: middle;vertical-align: top\">Tom Armitage (Media)<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: top\">+1 847 943 5678<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: top\">\n            <a href=\"mailto:news@mdlz.com\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">news@mdlz.com<\/a>\n          <\/td>\n<\/tr>\n<\/table>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODEyMDU1OSMzOTA0NTQzIzIwMDczODk=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/f7415087-5511-4c97-abcd-fd2938eba65a\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Premium, well-being brand platform founded on simple ingredients, provides cross-category growth opportunities in snacking Transaction follows April 2019 minority investment through SnackFutures innovation hub CHICAGO, Jan. 05, 2021 (GLOBE NEWSWIRE) &#8212; Mondel\u0113z International (NASDAQ: MDLZ) today announced it has acquired Hu (as in \u201cHuman\u201d) Master Holdings, the parent company of Hu Products, a fast-growing US-based snacking company offering high-quality snacks made from simple ingredients. Hu, which comes from the phrase \u201cGet Back to Human\u201d, is a purpose-led lifestyle brand with a devoted fan base. Founded 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, a high-end restaurant and market focused on delicious &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/mondelez-international-acquires-hu-a-well-being-snacking-company\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Mondel\u0113z International Acquires Hu,\u00a0A Well-being Snacking Company&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-408461","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Mondel\u0113z International Acquires Hu,\u00a0A Well-being Snacking Company - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/mondelez-international-acquires-hu-a-well-being-snacking-company\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mondel\u0113z International Acquires Hu,\u00a0A Well-being Snacking Company - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Premium, well-being brand platform founded on simple ingredients, provides cross-category growth opportunities in snacking Transaction follows April 2019 minority investment through SnackFutures innovation hub CHICAGO, Jan. 05, 2021 (GLOBE NEWSWIRE) &#8212; Mondel\u0113z International (NASDAQ: MDLZ) today announced it has acquired Hu (as in \u201cHuman\u201d) Master Holdings, the parent company of Hu Products, a fast-growing US-based snacking company offering high-quality snacks made from simple ingredients. Hu, which comes from the phrase \u201cGet Back to Human\u201d, is a purpose-led lifestyle brand with a devoted fan base. Founded 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, a high-end restaurant and market focused on delicious &hellip; Continue reading &quot;Mondel\u0113z International Acquires Hu,\u00a0A Well-being Snacking Company&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/mondelez-international-acquires-hu-a-well-being-snacking-company\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-05T13:08:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODEyMDU1OSMzOTA0NTQzIzIwMDczODk=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/mondelez-international-acquires-hu-a-well-being-snacking-company\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/mondelez-international-acquires-hu-a-well-being-snacking-company\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Mondel\u0113z International Acquires Hu,\u00a0A Well-being Snacking Company\",\"datePublished\":\"2021-01-05T13:08:22+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/mondelez-international-acquires-hu-a-well-being-snacking-company\\\/\"},\"wordCount\":1038,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/mondelez-international-acquires-hu-a-well-being-snacking-company\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODEyMDU1OSMzOTA0NTQzIzIwMDczODk=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/mondelez-international-acquires-hu-a-well-being-snacking-company\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/mondelez-international-acquires-hu-a-well-being-snacking-company\\\/\",\"name\":\"Mondel\u0113z International Acquires Hu,\u00a0A Well-being Snacking Company - 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Hu, which comes from the phrase \u201cGet Back to Human\u201d, is a purpose-led lifestyle brand with a devoted fan base. Founded 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, a high-end restaurant and market focused on delicious &hellip; Continue reading \"Mondel\u0113z International Acquires Hu,\u00a0A Well-being Snacking Company\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/mondelez-international-acquires-hu-a-well-being-snacking-company\/","og_site_name":"Market Newsdesk","article_published_time":"2021-01-05T13:08:22+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODEyMDU1OSMzOTA0NTQzIzIwMDczODk=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/mondelez-international-acquires-hu-a-well-being-snacking-company\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/mondelez-international-acquires-hu-a-well-being-snacking-company\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Mondel\u0113z International Acquires Hu,\u00a0A Well-being Snacking Company","datePublished":"2021-01-05T13:08:22+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/mondelez-international-acquires-hu-a-well-being-snacking-company\/"},"wordCount":1038,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/mondelez-international-acquires-hu-a-well-being-snacking-company\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODEyMDU1OSMzOTA0NTQzIzIwMDczODk=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/mondelez-international-acquires-hu-a-well-being-snacking-company\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/mondelez-international-acquires-hu-a-well-being-snacking-company\/","name":"Mondel\u0113z International Acquires Hu,\u00a0A Well-being Snacking Company - 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