Deerfield, Illinois-based Mondelez International has invested a minority stake in Hu Products and Hu Kitchen, a New York snack company which focuses on clean label, paleo-inspired products. Financial terms of the investment have not been released.
Founded in 2012, Hu was originally a high-end kitchen and market which focused on clean label, paleo items. The company later expanded to offer its products which includes coffee, chocolates and grain-free crackers, at retail locations.
“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. 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,” stated Timothy P. Cofer, Executive Vice President and Chief Growth Officer of Mondelez International.
Mondelez International made the investment through its SnackFutures business unit, a hub within the company which focuses on accelerating innovation, starting new brands and reinventing small-scale brands.
“Jordan, Jessica and I started Hu because we wanted a place where we could trust and understand every ingredient in our food. We chose Mondelez International as a minority investor because we believe their 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,” explained Jason Karp, Chairman of Hu.