Mondelez is Going Keto

The deal to buy the rest of Hu values the chocolate-bar maker at around $340 million.

Mondelez is in the latter innings of finalizing a deal to buy paleo chocolate-bar maker Hu Master Holdings, the latest purchase by an established food company aimed at sinking its teeth into the growing demand for healthy snacks.

The snack-food whale, which took a minority stake in Hu in 2019, is plotting to gobble up the rest in a transaction that values Hu at above $250 million. The deal for closely held Hu could be announced as early as Friday.

Hu is expected to operate separately from other Mondelez divisions, as do Tate’s and Perfect Snacks, another recent acquisition that makes organic nutrition bars.

Hu (pronounced “hue”) produces a beloved chocolate bar based on the paleolithic diet that’s vegan and free of both soy and refined sugar. The company was pioneered in 2012, when its prized restaurant first opened its doors in NYC’s Greenwich Village. It was founded by Jason H. Karp and siblings Jordan Brown and Jessica (Brown) Karp.

Mondelez, the Oreo cookies and Ritz crackers maker, has been adding to its snack portfolio. Like other food producers, it has prioritized brands with simpler ingredients as consumers’ tastes turn away from highly processed foods and toward healthier fare. Don’t Let The Domino’s FOMO Fool You


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