Undercover Snacks announced a majority investment by Mondelēz International. The better-for-you snack maker produces chocolate-covered and frosted quinoa crisps. The brand is sold in more than 25,000 retail locations and on United Airlines.
Leadership and structure
Undercover will operate as a standalone business within Mondelēz's North America Ventures unit. Diana Levy will remain CEO, and Michael Levy will stay President and COO. Both founders will retain a significant minority stake and serve on the board.
Company roots
Undercover was founded in 2016 after Diana Levy set out to create a snack for her family. Two of her daughters had been diagnosed with celiac disease. The company now runs a dedicated peanut-free and tree-nut-free facility in East Hanover, New Jersey.
Product and ingredients
All Undercover products are non-GMO and certified gluten-free. The snacks use Rainforest Alliance-certified cocoa. They are available at Whole Foods Market, Target, Walmart, Kroger, CVS, and Walgreens.
The partnership is expected to accelerate innovation, distribution, and long-term growth. Undercover plans to use Mondelēz's sales, marketing, and procurement resources to reach more consumers. The company aims to build Undercover into a major global brand.