UK – Mondelez International has made a significant move in the UK market by investing in Urban Legend, a fresh doughnut and pastry company known for its healthier offerings.
This investment marks Mondelez’s venture capital arm, SnackFutures’ first foray into the UK food sector.
The exact financial details of the minority stake have not been disclosed, but the partnership aligns with Mondelez’s strategic goal to expand its presence in the cakes and pastries segment.
Founded in 2021 by Anthony Fletcher, a scientist and entrepreneur, Urban Legend has quickly gained traction by utilizing patented air frying technology that reduces sugar, fat, and calories by 30% to 75% compared to traditional doughnuts.
This innovative approach allows Urban Legend to offer a range of delicious doughnuts that also cater to health-conscious consumers.
Currently, the company offers 12 varieties of doughnuts available in select Tesco and Sainsbury’s stores across London and the southeast of England.
Richie Gray, head of SnackFutures Ventures, expressed enthusiasm about this new partnership, stating, “Urban Legend is well-positioned to disrupt the UK’s fresh bakery category. We’re excited about the brand’s growth potential and focus on ‘mindful indulgence,’ which presents an opportunity for Mondelez to enhance its capabilities in the rapidly growing better-for-you bakery space.”
This sentiment reflects a broader trend within the industry where consumers seek healthier snack options without sacrificing taste.
Fletcher shared his vision for Urban Legend, emphasizing the need for innovation in the bakery sector.
He remarked, “As a scientist and advocate for well-being, I saw a need and opportunity to tackle innovation in one of the toughest categories. Our combination of novel technology and extensive recipe development has enabled us to be the first ones to deliver iconic doughnuts with less sugar, fat, and calories.”
He believes partnering with Mondelez will allow Urban Legend to scale its operations across Europe and beyond.
This investment follows Mondelez’s recent acquisition of a majority stake in Evirth, a Chinese producer of French-style pastries.
These moves indicate Mondelez’s commitment to diversifying its portfolio and responding to changing consumer preferences.
The company’s strategy focuses on integrating healthier options into its offerings while maintaining its core identity as a leader in indulgent snacks.
Urban Legend has attracted attention from various investors, raising £3 million (US$3.9 Million) earlier this year from notable backers including Samworth Brothers and even England football captain Harry Kane.
The brand’s ability to combine appealing aesthetics—such as colorful icing and creative designs—with health-conscious ingredients has contributed to its success in grocery retail.
As Mondelez continues to navigate an increasingly health-aware market landscape, its partnership with Urban Legend could serve as a blueprint for future innovations within its product lines.
Both companies benefit from this collaboration: Urban Legend gains access to Mondelez’s extensive resources and expertise while Mondelez taps into Urban Legend’s fresh approach to healthier snacking.
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