Mondelez tweaks SnackFutures remit
Mondelez International has refocused its SnackFutures unit to focus squarely on venture-capital investments.
The snacks behemoth set up SnackFutures in 2018 to work in three fields: the “invention of new brands and businesses in key strategic areas”; the “reinvention of small-scale Mondelez brands with large-scale potential”; and “venturing with start-up entrepreneurs to seed new businesses”.
Through SnackFutures, Mondelez made a series of investments in smaller brands, including in US snacks business Hu Master Holdings in 2019, which the Lu biscuits owner fully acquired two years later.
The unit subsequently became more directed to VC-style investments and to launching products, which included CaPao snacks and Ruckus & Co., a line of lunchbox smoothies for kids.
In 2021, Mondelez launched an accelerator, CoLab, to work with fledgling businesses in what the Cadbury maker then called “well-being snacks”. CoLab was housed within SnackFutures.
The US giant has decided to give SnackFutures the direct remit of investing in “scale-up” companies and wound down CoLab. It has also given the unit a new name – SnackFutures Ventures.
Just Food
Related news
Mondelez has inaugurated its largest solar park in Central and Eastern Europe in Székesfehérvár
Mondelez International officially handed over its new solar park on…
Read more >Walmart opens first-ever owned and operated case-ready beef facility
The discount giant opened a case-ready beef facility in Olathe,…
Read more >Anheuser-Busch invests $17M in Houston brewery
The beer giant has spent $2 billion during the last…
Read more >Related news
Carrefour launches its first AI-based solution in Spain
French retail chain Carrefour has chosen Spain to implement its…
Read more >Gösser Spritz display from Hungary wins two POP world titles
This year a Hungarian Gösser Spritz display – the winner…
Read more >Valeo Foods Group buys Italian panettone maker Melegatti 1894
The acquisition is the second Valeo Foods Group has announced…
Read more >