Food, beverage and snack company Mondelez International Inc. (MDLZ) is looking forward to purchase provider of food catering services Hu Master Holdings LLC.
According to Wall Street Journal, if the deal sails through it will leave Mondelez with a market value of over $250 million.
Back in April 2019, Mondelez which is the manufacturer of popular Oreo chocolate said it owned a minority stake in Hu Master Holdings further expressing its will to increase stake in the 2012 founded company.
Mondelez failed to disclose size of its stake in Hu Master however, the company noted that Hu had gained a loyal following for its vegan and paleo-friendly chocolates.
Mondelez told reporters that it’s not in a position to disclose further details concerning the deal but involved sources said the deal could be announced before the week is over.
Demand of snacks perceived health went up during the pandemic period, this resulted to several big packed food producers acquiring upstart food labels. Some of them include Mars Inc. which announced it will be purchasing energy bars manufacturer Kind North America and Granola.