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The Checkout: Mondelēz Talks M&A Strategy, Hu Acquisition on Q1 Call; Biden Signs FASTER Act Into Law
In this week’s Checkout, Mondelēz talks M&A strategy and Hu acquisition during Q1 earnings call; President Biden signs FASTER Act into law, making sesame the 9th major food allergen; and Kraft Heinz and Hershey discuss post-pandemic shopping behaviors.
Today snacking and confection powerhouse Mondelēz International announced it was acquiring Hu Master Holdings, the parent company of Hu Products. In 2019 Mondelēz took a minority stake in the company, which included a right of first refusal to acquire the company in an eventual sale. Hu will operate as a separate business, continuing to produce all products at current manufacturing facilities.
Jason Karp wants to change what people eat, drink, clean with and put on their bodies. The venture capitalist and co-founder of snack brand Hu Kitchen is pulling back the curtain on his new venture, HumanCo, with last week’s announcement of Amplify executive Will Lisman as the company’s new COO and chief commercial officer.
Category enhancement and reinvention often comes into view through product innovations scheduled to be seen at Expo West. Here’s a look at the latest products that companies plan to use to redefine sweeter snacks options, across bars, cookies and confection.
At the annual Consumer Analyst Group of New York (CAGNY) conference this week, leading CPG companies discussed their 2019 results — and plans and strategies for the future. For many, those plans include meeting consumer demand for wellness-oriented products with more offerings, especially in snacking and alternative protein.
The Checkout: Albertsons Moves Plated to Private Label, Honest Tea Co-Founder to Focus on Beyond Meat
Albertsons moves Plated to private label, Honest Tea co-founder to focus on Beyond Meat, Mondelez studies snacking and more in this week’s Checkout.
Paleo-focused Hu Master Holdings, owner of Hu Kitchen and Products, announced today that Sir Kensington’s co-founder and former CEO Mark Ramadan has joined the snack brand as CEO. Ramadan assumes the role from former PepsiCo executive Rita Hudetz who departed the company earlier this month. Co-founders Jason Karp and Jordan Brown told NOSH Ramadan brings a skill set that will help the brand scale to its next phase of growth.
Just over a month after taking a stake in Uplift Foods, Mondelēz announced today its second investment in Hu Master Holdings, the parent company of both CPG brand Hu Products and fast-casual restaurant concept Hu Kitchen. Hu Chairman and Co-Founder Jason Karp told NOSH the investment will allow the emerging brand to scale and increase accessibility of its products.
Jason Karp, CEO and founder of hedge fund Tourbillon Global Master Fund, announced earlier this week that he will be shutting down the multibillion dollar fund and returning roughly $1 billion dollars of capital to investors. His new focus, he told NOSH, will be focusing on health and wellness.
Today Hu Products, a producer of paleo-friendly, vegan, organic chocolate, announced the close of a round of funding led by Sonoma Brands, the venture fund helmed by CPG veteran Jon Sebastiani.
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