Here’s a story that will give New Jersey entrepreneurs a little extra motivation.
In 2016, Diana Levy was a mom with a problem. Two of her three teenage daughters had just been diagnosed with celiac disease, and she wanted to give them a snack that tasted like a treat but was made with simple ingredients. So, she started working on one in her kitchen.
The result was a chocolate-covered quinoa crisp, and a company called Undercover Snacks. Its tagline: “healthy ingredients in disguise.”
Ten years later, one of the biggest snack companies in the world wants in. Mondelēz International, the maker of Oreo, Ritz and Cadbury, is making a majority investment in the East Hanover company. The deal was announced last Friday. Terms were not disclosed.
Levy said in the announcement that she “never imagined how far that idea would go.”
It’s gone pretty far.
Undercover’s chocolate-covered and frosted quinoa crisps are sold in more than 25,000 retail locations, including Whole Foods Market, Target, Walmart, Kroger, CVS, Walgreens, Sprouts, Albertsons and Amazon. Since 2023, United Airlines has handed out more than 175 million units as a free snack in its main cabin.
All of this helped Diana Levy be among the winners of the 2025 EY Entrepreneur of the Year Awards for New Jersey.
Levy feels the product is the reason why.
She says they are non-GMO and certified gluten-free. They are made at its own peanut-free and tree nut-free facility in East Hanover, where the company also built its own quinoa crisping operation.
Michael Levy, the company’s President and COO, said Undercover “made significant investments in building a state-of-the-art production facility and our own quinoa crisping operation.”
It’s still a family business. Daughters Jenna, Elana and Arielle Levy work at the company in marketing, finance and operations and sales.
The family isn’t exiting with the sale.
While Undercover will operate as a standalone business within Mondelēz’s North America Ventures unit, alongside Perfect Snacks, Tate’s Bake Shop and Hu Chocolate, Diana Levy, Founder and CEO, will continue to lead the company. Michael Levy will focus on growth, strategy and operations. The Levys will keep a significant minority stake, and both will sit on the company’s board.
“We are incredibly excited to partner with Mondelēz and begin the next stage of Undercover’s journey,” Diana Levy said.
She said Mondelēz shares the family’s passion. Together, she said, they will be able to reach many more consumers and build Undercover into a major global brand, while preserving the company’s culture and entrepreneurial spirit.
For Mondelēz, the deal adds to its presence in better-for-you snacks. Chairman and CEO Dirk Van de Put called it an expansion in “permissible indulgence.”
The investment comes as Mondelēz looks for growth in North America. The company reported that third-quarter North America revenue rose 1.1% to $2.85 billion, with organic growth coming from pricing while volume was flat.
Centerview Partners served as exclusive financial adviser to Undercover, and Goodwin Procter LLP served as legal counsel.
