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Mondelez said Tuesday that it acquired paleo chocolate brand Hu, taking complete ownership after making a minority investment in the brand in 2019.
CEO Mark Ramadan, who agreed to join Hu not long after Mondelez s initial investment, told Insider that he helped the founders make several changes that made the brand more appealing to Mondelez for a larger relationship, including expanding its product lineup and putting national retailers at the center of its expansion plans.
Ramadan said also he used his experience creating and selling high-end condiment brand Sir Kensington s to Unilever as he and Hu s co-founders devised a new strategy for the company.
MondelÄz International Acquires Well-Being Snack Company
CHICAGO â MondelÄz International is building up its product lineup with the acquisition of Master Holdings, parent company of Hu Products.
Hu, which comes from the phrase Get Back to Human, Â is a U.S.-based snacking company offering high-quality snacks made from simple ingredients. Founded in 2012 as a family business by Jason H. Karp and siblings Jordan Brown and Jessica (Brown) Karp, Hu began as Hu Kitchen in New York, a high-end restaurant and market focused on delicious foods with simple, real ingredients.
The company went on to expand its vegan and paleo-friendly chocolate bars, which follow a strict set of Ultrasimple ingredient guardrails and sourcing practices.