Global snack food producer Mondelēz International has acquired a minority stake in the US-based early-stage start-up company Uplift Food, which develops prebiotic functional foods.
It is the first investment made by Mondelēz’s SnackFutures innovation and venture hub, which was established last year as part of the company’s consumer-centric growth strategy to explore growth opportunities across the globe.
Mondelēz International executive vice-president and chief growth officer Tim Cofer said: “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.
“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.”
SnackFutures primarily focuses on functional snacking, as consumers are seeking for snacks that deliver benefits.
The team of SnackFutures will work with Uplift Food in order to make gut health more accessible and enjoyable to its customers in new forms and flavours.
In addition to financial investment, SnackFutures intends to offer support to Uplift Food in areas such as marketing, distribution, R&D and sourcing.
Uplift Food founder and dietitian Kara Landau said: “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.”
