Mondelez to buy rest of chocolate-bar maker Hu – WSJ

© Reuters.

(Reuters) – Mondelez (NASDAQ:) International Inc is nearing a deal to buy Hu Master Holdings in a transaction that values the chocolate-bar maker at more than $250 million, the Wall Street Journal reported Monday, citing people familiar with the matter.

The Oreo maker said in April 2019 it had made a minority investment in Hu as part of an effort to double down on its snacking portfolio, noting that Hu, founded in 2012, had gained a devoted following for its vegan and paleo-friendly chocolates. It did not disclose the size of its stake.

Mondelez told Reuters on Monday it could not provide further details.

The report said the deal could be announced this week.

As consumers work from home during the COVID-19 pandemic, demand for snacks perceived as healthy has shot up.

The spike in demand has led to several major packaged food producers buying upstart snacks labels, with candy maker Mars Inc saying late last year that it would buy granola and energy bars maker Kind North America.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

READ  HSBC 2019 profit falls 33%, misses estimates

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Please enter your comment!
Please enter your name here