RTTNews | Jan 5, 2021 08:25AM EST

08:24 Tuesday, January 5, 2021 (RTTNews.com) - Mondelz International (MDLZ) has acquired Hu Master Holdings, the parent company of Hu Products, a US-based snacking company. Mondelz International made an initial minority investment in Hu in April 2019 through SnackFutures. The minority investment granted a right of first offer to acquire the company. Following a competitive bid for Hu, Mondelz successfully acquired 100 percent ownership of the brand.

Hu will continue to produce all products at current manufacturing facilities. Hu senior leadership will receive a contingent payment based on future performance of the company.

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