Mondelēz International has completed its acquisition of Hu Master Holdings, a maker of better-for-you chocolate.
The acquisition follows Mondelēz’s purchase in 2019 of a minority stake. Sources told the Wall Street Journal that the transaction values Hu at about $340 million.
Hu was started in 2012 in New York City. Its major product is chocolate produced according to the paleo diet, free of refined sugar. It also recently added grain-free crackers to its line.
The Hu purchase is the latest addition by Mondelēz to its snack portfolio. It has recently bought Tate’s Bake Shop and Perfect Snacks, which also produce better-for-you foods. These units operate separately, as Hu is expected to.
