What Mondelez International Will Do With Urban Legend Doughnuts (19459000)
Mondelez International is a confectionery and snacks giant. Reduced fat, sugar and calorie contentRichie Gray of SnackFutures Ventures told FoodNavigator that the startup would initially support growth in the UK.
He said: "As an investment firm, we are interested in the cake and pastry category because it offers an opportunity for incremental growth."
We believe we can use our brands to play in the cake and pastry market. As we expand, we are interested in Urban Legend’s work in the fresh produce sector – they give us the ability to access different areas of the store as well as smart technology.
Urban Legend Doughnuts is available at the following locations:
Urban Legend can be found at the end of the gondola in around 200 stores in the UK, Gray told FoodNavigator of Mondelez's investment arm, SnackFutrures. Invest only in financially sound companiesThe amount invested or the terms of the financing were not disclosed by.
He said Urban Legend's growth plans with Mondelez are still in their early stages.
The company is growing and we are taking a small stake. There are plans to partner with [founder] Anthony Fletcher's team to help them achieve their goals and scale faster by leveraging capital and expertise.
He added that Mondelez will provide Urban Legend with R&D and learning more about this new, fresher, healthier space.
When asked about the possibility of international expansion, Gray said that to scale the business, it would first need to focus on growth in the UK. “That alone could be a huge opportunity.” Gray confirmed that the business could one day expand geographically.
Who owns Urban Legend?
Fletcher was the CEO of Graze healthy snacking, which Unilever acquired in 2019. His goal was to transform one of the unhealthiest product categories into something better for consumers.
He told FoodNavigator that sweet pastry is “one of the largest and healthiest markets in the world.” It’s high in fat and sugar, and the industry is struggling to eliminate it. “I don’t think there’s a product that can’t meet HFSS standards and still have the same quality.”
Fletcher said donuts were the first product to be offered, although he confirmed there would be more in the future, including baked goods. He said they already sell cinnamon rolls and will be launching another category in the coming weeks.
We see retailers trying to find a balance between indulgence and balance. [health] Fletcher said his team's focus is on how legislation is evolving in conjunction with industry commitments to improve the overall health of the shopping basket.
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