Mondelez International’s SnackFutures Ventures Makes Strategic Investment in UK “Better-for-You” Doughnut Start-Up Urban Legend
Mondelez International, Inc. - Class A (MDLZ)
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Source: GlobeNewswire
Urban Legend’s air frying technology reduces fat, sugar and caloriesby 30% to 75% vs. traditionally made doughnutsSupports Mondelez strategic intent to expand in cakes and pastries CHICAGO, Oct. 01, 2024 (GLOBE NEWSWIRE) -- Mondelez International, Inc. (Nasdaq: MDLZ) today announced that its corporate venture capital arm, SnackFutures Ventures, has taken a minority stake in Urban Legend, a fast-growing, “better-for-you” fresh doughnut and pastry business in the United Kingdom. Founded in 2021 by scientist and entrepreneur Anthony Fletcher, Urban Legend uses a custom designed and patented air frying technology to reduce sugar, fat and calories by 30 percent to 75 percent compared to traditionally made doughnuts. All Urban Legend varieties – including those with creamy fillings, icings and frostings – are 200 calories or less. “Urban Legend is well positioned to disrupt the UK’s fresh bakery category,” said Richie Gray, global head of SnackFutures Ventures. “We’re
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MDLZ
Earnings
- 10/29/24 - Beat
MDLZ
Sec Filings
- 12/3/24 - Form 8-K
- 10/29/24 - Form 10-Q
- 10/29/24 - Form 8-K
- MDLZ's page on the SEC website