Mondelēz International Takes Minority Investment in Uplift Food Start-Up
Source Mondelez International, Inc.
DEERFIELD, Ill., March 07, 2019 (GLOBE NEWSWIRE) -- Mondelēz International announced today it has 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 the company is making as part of SnackFutures, the company’s innovation and venture hub aimed at unlocking snacking growth opportunities around the world.
A key pillar of the company’s consumer-centric growth strategy, SnackFutures is designed as an independent hub that brings three core tenets of growth under one umbrella to accelerate innovation: invention of new brands and businesses; reinvention of small-scale brands with large-scale potential, and venture investments with start-up entrepreneurs.
“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,” said Tim Cofer, Executive Vice President and Chief Growth Officer of Mondelēz International. “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.”
Functional snacking is a strategic area for SnackFutures as 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 will also provide strategic support in areas like marketing, distribution, R&D and sourcing.
“Partnering with SnackFutures will undeniably strengthen Uplift Food’s capacity to live our mission of seeing everyone benefit from the consumption of gut healthy foods. The SnackFutures team provides the industry experience needed to make our dream a reality, and the continued support they show us to hold onto our nutritional and ingredient integrity allows us to remain true to our core values and grow,” said Kara Landau, Dietitian and Founder Uplift Food.
Supported by an unconventional ecosystem of best-in-class internal experts and external partners around the globe, SnackFutures seeks to collaborate in three key strategic areas: well-being snacks, premium snacks, digital platforms and capabilities. Check https://www.snackfutures.com/ for more information on how entrepreneurs and partners can submit innovative ideas.
About Mondelēz International Mondelēz International, Inc. (NASDAQ: MDLZ) empowers people to snack right in approximately 150 countries around the world. With 2018 net revenues of approximately $26 billion, MDLZ is leading the future of snacking with iconic global and local brands such as Oreo, belVita and LU biscuits; Cadbury Dairy Milk, Milka and Tobleronechocolate; Sour Patch Kids candy and Trident gum. Mondelēz International is a proud member of the Standard and Poor’s 500, Nasdaq 100 and Dow Jones Sustainability Index. Visit www.mondelezinternational.com or follow the company on Twitter at www.twitter.com/MDLZ.
