Mondelēz International has agreed to acquire a majority stake in Undercover Snacks, the East Hanover, New Jersey, maker of chocolate-covered quinoa crisps, the company said with its third-quarter results on 29 October 2026.
Why Mondelēz International, Inc. is buying Undercover Snacks (Undercover Chocolate Company, Inc. and Undercover Ingredients LLC)
Mondelēz said the brand extends its push into the high-growth permissible indulgence segment and has a clear runway to expand household penetration and distribution. Undercover products are sold in more than 25,000 retail locations and on United Airlines flights.
“We are incredibly excited to partner with Mondelēz and begin the next stage of Undercover's journey”
Deal terms and financing
Financial terms were not disclosed. Diana and Michael Levy will retain a significant minority stake and both will sit on the board; Diana Levy stays as chief executive and Michael Levy becomes president and chief operating officer. Undercover will operate as a standalone business within Mondelēz's North America Ventures unit.
Regulatory approvals and timing
The transaction is subject to customary closing conditions, including regulatory approval, and is expected to close in the first quarter of 2027.
Market context
Diana Levy founded Undercover in 2016 after two of her daughters were diagnosed with coeliac disease, and the company makes its snacks in a dedicated peanut-free and tree-nut-free facility. Mondelēz's North America Ventures unit also holds Perfect Snacks, Tate's Bake Shop and Hu Chocolate.
