Mondelēz International Invests in UK’s ‘Better-for-You’ Bakery Brand Urban Legend

United Kingdom (UK) 03.10.2024

Source: DairyNews.today

Mondelēz International, Inc. (Nasdaq: MDLZ) announced that its venture capital arm, SnackFutures Ventures, has taken a minority stake in Urban Legend, a rapidly growing fresh doughnut and pastry business based in the United Kingdom. Urban Legend, founded in 2021 by scientist and entrepreneur Anthony Fletcher, leverages patented air frying technology to reduce sugar, fat, and calories by 30% to 75% compared to traditional doughnuts, with all varieties containing 200 calories or less.

The investment reflects Mondelēz's strategic focus on expanding its presence in the ‘better-for-you’ fresh bakery segment. “Urban Legend is well-positioned to disrupt the UK’s fresh bakery category,” said Richie Gray, global head of SnackFutures Ventures. With this partnership, Mondelēz aims to build capabilities in the growing market of healthier indulgent snacks.

Urban Legend’s current product range includes 12 doughnut varieties, sold across nearly 200 stores in the UK. The brand’s innovative approach to baking, combining technology and extensive recipe development, has enabled it to deliver lower-calorie options without compromising on taste, positioning it as a leader in mindful indulgence.

This partnership offers significant potential for scaling Urban Legend’s operations across Europe and beyond. As CEO Anthony Fletcher commented, “A partner like Mondelēz provides enormous opportunity to expand our unique offering on a global scale.”