The transaction – anticipated to be introduced this week – is ready to worth the maker of Paleo chocolate bars and grain-free crackers at $340m.
Mondelez acquired a minority stake in Hu in 2019, seven years after the closely-held firm was based by Jason Brown and his sister and brother-in-law, Jessica and Jordan Karp.
The trio opened a restaurant (Hu Kitchen) in New York Metropolis’s Greenwich Village, earlier than turning their arms to develop paleo pleasant or ‘primal’ snacks. Motivated by their learnings to beat Brown’s battle with autoimmune illness, the cofounders got down to create a model that delivered to life their human-centric philosophy of thriving, not simply surviving, in accordance with its web site.
All its chocolate merchandise are vegan, gluten-free and clear label, being freed from dairy, GMOs, emulsifiers, soy lecithin, refined sugar, cane sugar and sugar alcohol. It additionally makes use of solely USDA-Licensed Natural and licensed Truthful Commerce cocoa butter; USDA-Licensed Natural cacao and Oregon Tilth Natural Licensed 100% Arabica beans.
Like many different majors, lately Mondelez has been including to its snack portfolio with manufacturers sporting easier substances to keep up a reference to customers who’re more and more prioritising more healthy existence.
Three years in the past, the snacks large launched SnackFutures, a ahead pondering innovation hub devoted to capitalise on new developments and mobilise entrepreneurial expertise and applied sciences to develop small manufacturers with large-scale potential.
In the identical 12 months, it additionally snapped up better-for-you cookie maker Tate’s Bake Store – which makes use of brown cane sugar and butter over excessive fructose corn syrup and vegetable oil – for $500m, adopted by a minority stake in refrigerated protein bar maker Excellent Snacks a 12 months later.
Hu is predicted to function individually from different Mondelez divisions.