Mondelēz launches SnackFutures for innovative snacking
Mondelēz, a snack industry powerhouse, has recently unveiled its corporate venture capital division, SnackFutures Ventures. This endeavor aims to invest in growth-focused companies that can disrupt and reinvent snacking. With a clear pathway for diversifying its product line and battling market challenges, this serves as a strategic move for Mondelēz to ensure satisfied and loyal customers.
Aligning with Mondelēz’s existing business strategy, SnackFutures Ventures will foster collaborations with promising startups. One such venture was the 2021 acquisition of Hu Master Holdings, a paleo chocolate brand valued at about $340 million. This move was predicated on the growing consumer trend towards healthier snack alternatives. By incorporating businesses like Hu, Mondelēz strengthens its foothold in the premium chocolate market and diversifies its array of products and expertise.
As stated by Richie Gray, Global Head of SnackFutures, these investments will be strategically drawn from their financial reserves.
Mondelēz’s SnackFutures ventures into innovative snacking
This statement emphasizes Mondelēz’s commitment to innovation, aiming to revolutionize global snack consumption by creatively balancing technology and consumer trends. Here, SnackFutures Ventures hopes to collaborate with international, growth-stage companies with minimum annual revenues of $20 million that are profit-generating.
The investment journey has already commenced with two start-ups, Celleste Bio and Torr Food Tech, securing early funding. Celleste Bio presents a ground-breaking method of transforming cell waste into edible food, and Torr Food Tech focuses on enhancing sensory experiences through technological advancements. These investments align with SnackFutures Ventures’ initiative to support unique technology trends that aim to revolutionize the snack industry.
Looking ahead, Gray anticipates future acquisitions within three to four years of the initial investment. SnackFutures Ventures aims to broaden its horizons in the UK and German markets while launching a startup accelerator initiative in India. The firm is prepared to allot an average of $2-3 million for startups, illustrating their determination to drive radical innovation in the snack industry.
