Sector News

Mondelēz buys stake in functional food brand Uplift Food

March 8, 2019
Consumer Packaged Goods

Mondelēz International has bought a minority stake in Uplift Food, an early-stage start-up that produces prebiotic functional food supplements.

Uplift Food’s naturally-sourced powdered supplements can be added to applications such as smoothies, snack bars or oats to add extra functional benefits and help support the gut health and mood of consumers.

The investment is the first made by Mondelēz’s SnackFutures innovation and venture hub, which was established last year to capitalise on emerging growth opportunities in the snacking segment.

According to Mondelēz, functional snacking is a strategic area for SnackFutures, as consumers are increasingly looking for their snacks to deliver benefits but options are currently limited.

As a result of this investment, the SnackFutures team will work with Uplift Food to make gut health more understandable, accessible, and enjoyable by collaborating in three key strategic areas: well-being snacks, premium snacks, digital platforms and capabilities.

SnackFutures will also leverage its industry expertise to provide Uplift Food with strategic support in areas such as marketing, distribution, R&D and sourcing.

Tim Cofer, executive vice-president and chief growth officer of Mondelēz International, 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.”

Kara Landau, dietitian and founder of Uplift Food, added: “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.”

By Martin White

Source: FoodBev

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