March 12, 2019
Chances are that, when you have a “snack attack,” you reach for something from Switzerland-based Mondelēz International—the maker of such popular treats as Oreo cookies, Ritz crackers, Tang flavored drinks, and Toblerone chocolates, among other top brands.
On March 7, Mondelēz announced that it had taken a minority investment in Uplift Food, a US-based early-stage start-up focusing on prebiotic functional foods.
This is the first venture investment that the company is making as part of SnackFutures, its innovation and venture hub aimed at unlocking snacking growth opportunities around the world.
“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,” commented Mondelēz Executive Vice President and Chief Growth Officer Tim Cofer, adding, “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.”
The company believes that consumers are increasingly looking for their snacks to deliver benefits—but options are currently limited. The SnackFutures team will work with Uplift Food to make gut health more understandable, accessible, and enjoyable through new forms and flavors.
Beyond the financial investment, SnackFutures also will provide strategic support in areas such as marketing, distribution, R&D, and sourcing.
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