The deal to buy the rest of Hu is worth the chocolate bar maker at about $ 340 million.
Photo:
Theo Wargo / Getty Photos for Good + Foundation
Mondelez International Inc.
MDLZ -0.94%
is approaching a deal to buy paleo chocolate bar buyer Hu Master Holdings, the latest move by an established food company to meet the growing demand for healthier snacks.
The food giant, which took little interest in Hu in 2019, plans to buy the rest in a trade that values Hu at around $ 340 million, according to people familiar with its issue. The deal for Hu held closely could be announced this week, they said.
Hu (pronounced “hue”) makes a popular chocolate bar based on the vegan and sugar-free paleolithic diet of soy and refined soy. Recently, it has expanded to a biscuit without grain. The company will continue its roots until 2012, when their famous restaurant opened in New York City’s Greenwich City. It was founded by Jason H. Karp and sisters Jordan Brown and Jessica (Brown) Karp, according to the company’s website.
Mondelez, maker of Oreo cookies and Ritz breakers, has been adding to its snack package. Like other food manufacturers, it has prioritized brands with simpler ingredients as consumer tastes turn away from high-processing foods and towards a healthier fare.
In 2018 they agreed to buy Tate’s Bake Shop for around $ 500 million. Tate’s, famous for its green-and-white label, uses brown cane sugar and butter over high-fructose corn syrup and vegetable oil.
Hu is expected to work separately from other Mondelez regions, such as Tate’s and Perfect Snacks, another recent construction that makes organic feed bars.
Write to Cara Lombardo at [email protected]
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