Mondelez International towards agreement for "vegan chocolates"
The deal for the acquisition of Hu Master Holdings is expected this week
Mondelez International is pursuing negotiations for the stipulation of an agreement for the acquisition of Hu Master Holdings. A transaction that estimates the chocolate bar maker's value at over $ 250 million, the Wall Street Journal reported on Monday, Jan.4, 2021. Oreo and cracker maker Ritz said in April 2019 that it had made an investment in a minority stake in Hu, as part of a plan to double its snack portfolio. This move was made taking into account that Hu, founded in 2012, had achieved great success for its vegan and paleo-friendly chocolates.
Mondelez told Reuters it could not provide further details, however the deal could be announced this week. Hu would reportedly operate separately from the other Mondelez divisions, as well as Tate's and Perfect Snacks, another recent acquisition of a company that makes organic nutrition bars.
Given the Covid-19 pandemic and the large number of employees currently working from home in smart working, the demand for snacks perceived as "healthy" has soared. The surge in demand has led several major packaged food manufacturers to purchase emerging snack labels. An example is given by Mars Inc which at the end of last year stated that it would buy the granola and energy bar manufacturer Kind North America (see EFA News article of 18-11-20 ).
EFA News - European Food Agency