Mondelez’s SnackFutures Invests In U.K. Donut Company

Mondelez International’s SnackFutures Ventures announced this week it has taken a minority stake in air-fried, low-sugar donut brand Urban Legend. Financial terms of the investment were not disclosed.

Founded in 2021, Urban Legend currently sells 12 varieties of donuts and pastries – including products with creamy fillings, icings and frostings – in 200 stores throughout the United Kingdom; the brand is merchandised in its own standalone bakery cabinets.

The products are made via a “custom designed and patented air frying technology” that reduces sugar, fat and calories by between 35% to 75% when compared to conventional donuts, according to the company.

“As a scientist and advocate for well-being, I saw a need and opportunity to tackle innovation in one of the toughest categories, and bring something truly unique to fresh bakery,” said Anthony Fletcher, founder and CEO of Urban Legend, in a press release.

Fletcher added that the partnership provides opportunities to scale to additional markets.

SnackFutures Ventures invests in brands and businesses aligning with the company’s focus on chocolate, biscuits and baked snacks categories. Its current portfolio includes cocoa technology company Celleste Bio and gluten-free cracker brand Craize.

“We’re excited about the brand’s growth potential, focus on ‘mindful indulgence,’ and opportunity to help Mondelēz build capability in the fast-growing ‘better-for-you’ fresh bakery space,” said Richie Gray, global head of SnackFutures Ventures, in a press release.