The world leading confectionery & snack manufacturer Mondelez International announced that its new ventures & innovation hub SnackFutures has made a seed investment in Israeli Foodtech Company Torr. SnackFutures is a key pillar of Mondelez Internationals consumer-centric growth strategy.
- Torr, an early stage Foodtech Company, alongside Foodtech incubator The Kitchen Hub powered by Strauss-Group.
- SnackFutures seeks to collaborate in key strategic areas of well-being snacks and related capabilities, as well as digital platforms and capabilities.
The major deals and collaboration by Mondelez International are mentioned below:
Oct 2020: To promote sustainable cocoa farming Mondelez International, Inc. opened a state-of-the-art cocoa crop science technical center in Pasuruan, Indonesia. The new center enables Mondelez International to develop and promote better cocoa farming practices, helping suppliers and partners across the world.
February 2020: Mondelez International announced an agreement to acquire a majority interest in Toronto based Give & Go, a North American leader in fully-finished sweet baked goods. Give & Go is owner of the famous two-bite brand and the Create-A-Treat brand known for cookie and gingerbread house decorating kits.
June 2019: Mondelez International, had acquired a majority interest in Perfect Snacks in the U.S., expanding its leadership position in broader snacking business. Perfect Snacks pioneer in the fast-growing refrigerated nutrition bars segment.
May 2019: Mondelez International, had completed the sale of its Kraft-branded Cheese business in Middle East and Africa (MEA) to Arla Foods of Denmark. As per agreement all Kraft-branded Cheese products in the MEA markets, as well as a Cheese manufacturing site in Bahrain, are part of this transaction.
April 2019: Mondelez International announced a collaboration agreement with Israel based The Kitchen, only FoodTech-focused incubator and one of the first FoodTech incubators in the world. The collaboration is led by Mondelez Internationals R&D and SnackFutures teams, the companys innovation and venture hub aimed at unlocking snacking growth opportunities around the world
About Mondelez International
Mondelez International (MDLZ) is one of the world’s largest snacks companies, headquartered in Illinois, United States. The company has operations in more than 80 countries and employ approximately 80,000 in around the world.
The company has a leading position in brownies, cupcakes, pastries and muffins. MDLZ is leading the future of snacking with iconic global and local brands such as Cadbury Dairy Milk, Milka and Toblerone chocolate; Oreo, belVita and LU biscuits; Sour Patch Kids candy and Trident gum.