Mondelez to Spend a Third of a Billion on a Paleo Chocolate Acquisition

Mondelez International (NASDAQ: MDLZ), parent company of Oreo cookies, Ritz crackers, and other household name snack food brands, has announced its purchase of privately held chocolate bar maker Hu Master Holdings, The Wall Street Journal reports. Completing the transaction will cost Mondelez approximately $340 million, sources told the Journal, on top of the minority ownership share Mondelez has held since April 2019.

According to a press release from Mondelez this morning, Hu Master Holdings is "a category leader in premium chocolate in the United States, and one of the fastest-growing confectionery brands in the natural channel." The company makes chocolate bars designed to match the requirements of the "paleolithic" or "paleo" diet, along with a recently launched line of grain-free crackers.

Image source: Getty Images.

Source Fool.com