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Mondelez acquires chocolate bar maker Hu to expand the healthy snack business

Mondelez International said Tuesday that it has acquired snack maker Hu Master Holdings as demand for snacks as the company’s customers shift to work from home due to the COVID-19 pandemic.

The deal follows Mondelez’s investment in April 2019 with a minority stake in Hu, which will now operate as part of the North American Ventures business venture.

Mondelez did not disclose the value of the deal, but the Wall Street Journal said Monday that the deal values Hu, who was founded in 2012, at more than $250 million.

Hu has begun investing in healthy brands to adapt to changing consumers’ eating habits, adding brands like Tate’s and Perfect Snacks to its portfolio, and also makes eco-friendly, vegan chocolate bars made with organic cocoa, which are loyal consumers to the company.

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