Mondelēz International has acquired Hu (as in “Human”) Master Holdings, the parent company of Hu Products – a US-based snacking company offering snacks made from simple ingredients.
Following a competitive bid for Hu, Mondelēz International successfully acquired 100% ownership of the brand. The acquisition closed on January 4, 2021. Financial terms of the deal were not disclosed.
Hu, which comes from the phrase “Get Back to Human”, is a lifestyle brand which was founded 2012 as a family business.
It 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™ ingredient guardrails and sourcing practices. Hu’s chocolate was inspired by the paleo movement and developed by the founding family.
The brand has become a leader in premium chocolate in the United States. Recently, Hu has broadened its offerings to include premium, grain-free crackers and begun scaling its distribution to grocery stores nationwide.
Glen Walter, EVP & President, Mondelēz International North America, said: “Hu is a strong strategic complement to our snacking portfolio in 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 eCommerce 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.”
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.
Mondelēz 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’s growth.
Hu will continue to produce all products at current manufacturing facilities.
*Image by Hu Kitchen.