USA – Mondelez International has announced that it has acquired a minority shareholding in US-based functional foods brand, Uplift Food for an undisclosed amount.
The investment is part of the company’s SnackFutures, innovation and venture initiative of the company aimed at unlocking snacking growth opportunities around the world.
This is the first venture investment under the innovation hub, positioning Mondelez to capitalize on changing consumer trends and emerging growth opportunities in the snacking segment.
SnackFutures focuses on investments in three areas including investing in new brands; reinvention of small-scale Mondelēz brands as well as venturing with start-up entrepreneurs to seed new businesses.
“As the global snacking leader, we’re on a clear mission to lead the future of snacking by providing the right snack, for the right moment, made the right way,” said Tim Cofer, Executive Vice President and Chief Growth Officer of Mondelēz International.
“Together with Uplift Food, we have a unique opportunity to disrupt the functional food category by delivering ‘snackable’ products focusing on gut health – something that does not exist today.”
As part of the deal, SnackFutures team will work with Uplift Food to make gut health more understandable, accessible, and enjoyable through new forms and flavors.
In addition to providing financial support, SnackFutures will offer strategic support in areas like marketing, distribution, R&D and sourcing.
“Partnering with SnackFutures will undeniably strengthen Uplift Food’s capacity to live our mission of seeing everyone benefit from the consumption of gut healthy foods.
The SnackFutures team provides the industry experience needed to make our dream a reality, and the continued support they show us to hold onto our nutritional and ingredient integrity allows us to remain true to our core values and grow,” said Kara Landau, Dietitian and Founder Uplift Food.
SnackFutures seeks to collaborate in three key strategic areas: well-being snacks, premium snacks, digital platforms and capabilities.
It is aligned with Mondelēz International’s purpose of empowering people to snack right by offering the right snack, at the right time, in the right way.