Mondelez, through its corporate venture SnackFutures, acquires stake in Urban Legend.
- Urban Legend, established in 2021, is known for its health-compliant doughnuts.
- Anthony Fletcher seeks to transform the bakery sector with this partnership.
- SnackFutures sees potential for technical collaboration and product development.
- England football captain Harry Kane has previously invested in Urban Legend.
Mondelez, leveraging its corporate venture capital arm SnackFutures, has strategically acquired a minority stake in the innovative bakery brand Urban Legend. Notably, Urban Legend distinguishes itself by producing doughnuts compliant with health standards that significantly reduce fat, salt, and sugar content, addressing the market demand for healthier indulgences.
Founded by former Graze CEO Anthony Fletcher in 2021, Urban Legend has set its ambitions high with a mission to revolutionise the fresh bakery industry. Fletcher confidently expressed that extensive research and development has revealed no barriers in making products HFSS compliant while maintaining indulgence, matching or exceeding that of current market offerings.
SnackFutures’ global head Richie Gray remarked on the acquisition as a significant move for Mondelez, marking its budding interest in venturing into the fresh bakery category, beyond its established licensing business. He suggested the potential for collaborative innovation, noting that Mondelez’s R&D teams are poised to offer technical support to enhance Urban Legend’s product offerings.
In 2022, a notable endorsement came from England football captain Harry Kane, who invested in Urban Legend. His admiration for the company’s approach to creating healthier versions of popular treats reflects the growing consumer trend toward nutritious alternatives without sacrificing flavour.
Mondelez’s investment in Urban Legend underscores a strategic pivot towards healthier bakery alternatives, aligning with shifting consumer preferences.
