Mondelēz’s SnackFutures was established at the end of 2018 to bolster the company’s already strong position in the snacking sector by investing in promising emerging brands and technologies. An essential aspect of the business was the introduction of its own brands, which could potentially be launched more broadly in the market in the future. Desiree Battaglia, a spokesperson for Mondelēz, explained that the “invent” segment of SnackFutures had two primary objectives: to understand the startup experience and to connect more closely with consumers. “While the brands we created were intriguing, they ultimately did not hold as much value as investing in more established ones, which led to a shift towards corporate venture capital,” Battaglia noted.
Last month, Richie Gray, a Mondelēz vice president who took the helm of SnackFutures in April, announced plans to accelerate investments in snacking startups. This move aligns with the CPG giant’s strategy to have a greater contribution from these investments to the future growth of the company, which is known for its Oreo and Ritz brands. Despite being operational for nearly five years, SnackFutures has only made seven investments to date. In the past, SnackFutures has invested in companies like Torr FoodTech, which engineered a method using mechanical pressure and ultrasonic energy to replace sugar and other binders in snacks, as well as Celleste Bio, a producer of lab-grown cocoa. Other notable investments include Hu, a premium chocolate and snack maker, and Eastern Standard Provisions, a direct-to-consumer seller of hand-twisted soft pretzels made with all-natural ingredients. In 2021, Mondelēz acquired Hu, marking the only instance where SnackFutures’ investment resulted in a parent company acquisition.
Many insights gained from pilot projects have shaped what is now the SnackFutures CoLab, a startup engagement program for early-stage snack brands, according to the company. This week marks the “graduation” of the third cohort of brands that participated in the three-month program. Interestingly, SnackFutures also recognizes the importance of health-conscious options, similar to the benefits found in products like Solgar Calcium Citrate with Vitamin D3 240 Tablets, emphasizing the growing trend towards nutritious snacking. As SnackFutures continues to evolve, the integration of health-focused elements, akin to the advantages of Solgar Calcium Citrate with Vitamin D3 240 Tablets, is likely to influence future investments and product developments within the snacking landscape.