Mondelēz Takes Minority Stake in Healthy Bakery Startup Urban Legend
October 10, 2024 | 1 min to read
In a strategic move reflecting the UK's shift towards healthier bakery options, Mondelēz International has made a minority investment in the startup Urban Legend through its venture unit SnackFutures. Founded in 2021 by Anthony Fletcher, Urban Legend utilizes patented air frying technology, significantly reducing sugar, fat, and calories by 30-80% compared to traditional doughnuts.
In a move that highlights the growing shift toward healthier bakery options in the UK, Oreo cookies maker Mondelēz International has made a first minority investment in local startup, Urban Legend, through its venture unit SnackFutures. Financial details were not disclosed.
Founded in 2021 by Anthony Fletcher, former CEO of Graze snacks (acquired by Unilever) and innovation manager at innocent drinks (acquired by Coca-Cola), Urban Legend is known for using a custom designed and patented air frying technology to reduce sugar, fat and calories by 30-80% compared to traditionally made doughnuts.
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