Mondelez acquires healthy snack maker Hu

By Mariona Planella Boix, Ismael Fathy Martínez, Pau Rodríguez Coll (ESADE), Axel Mebarek, Pierre Pinsault (Grenoble École de Management)

 

Overview of the deal


Acquirer: Mondelez International Inc

Target: Hu Master Holdings

Implied Equity Value: Not Disclosed

Total Transaction Size: Not Disclosed

Closed date: January 4, 2021

Target advisor: Not Disclosed


Mondelez will be acquiring Hu to expand the healthy snack market, as the company noted that Hu has loyal customers for its vegan and paleo-friendly chocolates. This deal comes at around two years after Mondelez International Inc made an initial minority investment in Hu through SnackFutures, with the aim to unlock new snacking options and exploit future opportunities in chocolate and crackers. According to a Wall Street Journal report, the deal values the chocolate-bar maker at more than $250m.


Company Details: (Acquirer - Mondelez International Inc)


Mondelez International Inc. is a company that manufactures and markets snack food and beverage products for consumers in more than 160 countries. Its brands spanned five product categories: Biscuits, including cookies, crackers and salted snacks; Chocolate; Gum and candy; Beverages, including coffee and powdered beverages, and Cheese and grocery. Its portfolio includes well-known brands, including Oreo, LU, Milka, Toblerone, Trident and Halls.


Founded: 2012

Headquarters: Illinois, USA

CEO: Irene Rosenfeld

Number of Employees: 99,000

Market Cap: $80,7B (as of 28/01/2021)

EV: $98,8B

LTM Revenue: $26,2B

LTM EBITDA: $4,7B

LTM EV/Revenue: 3.7x

LTM EV/EBITDA: 18.7x


Company Details: (Target - Telefónica)


Hu Master Holdings LLC is a multinational chocolate-bar maker based in the United States providing food services. Hu serves customers on a global level with vegan, paleo-friendly chocolate bars made with organic cacao. The company was acquired by Mondelez in January 2021.