Mars has signed an agreement to acquire a significant majority stake in German functional food and beverage company Foodspring.
On completion of the transaction, Foodspring will remain a standalone business led by its founders within Mars Edge, a segment of Mars. The business will continue to operate out of its headquarters in Germany.
Foodspring’s portfolio includes protein shakes, supplements, snacks and bars, muesli and porridge, and a range of beverages. The company also offers a nutrition and fitness platform with workout and healthy eating tips.
Mars Edge, a unit within Mars founded in 2017, is dedicated to human health and wellness through targeted nutrition.
“When we started Mars Edge, we set out to connect the food you want with the nutrition you need. Over the past six years, Foodspring has been at the forefront of doing just that,” said Mars Edge president Jean-Christophe Flatin.
“Its targeted nutrition business has a distinctive position and loyal consumer base in Europe. We share the same vision to improve the way people live through nutrition and together we will use Foodspring’s expertise across digital know-how, branding and food innovation to build one of the leading platforms in this space.
“The depth of knowledge on consumer needs brought by Foodspring is a great asset and will help us to pioneer the emerging space of personalised nutrition.”
Foodspring was founded by entrepreneurs Philipp Schrempp and Tobias Schüle with their financial co-founding partner Econa in 2013.
“We are looking forward to accelerating the growth of our business by drawing on Mars’ global infrastructure, marketing and science capabilities, as well as its expertise in quality and food safety,” said Schrempp.
“We started Foodspring because we realised that there was room to innovate the functional food category and better serve consumers for whom fitness and health were central parts of their lifestyles. And once we had started the business we soon discovered that nutrition didn’t mean you have to compromise on taste and convenience.”
Schüle added: “It was clear from early on in discussions that we shared a vision and passion with the Mars Edge team. Like them, we want to use our depth of knowledge on consumer needs to pioneer the emerging space of personalised nutrition.
“The food industry is on a huge transformational path towards improving nutrition so people can reach their goals and improve their health. And together with Mars Edge, we want to take the lead in this transforming category.”
It is expected the transaction will close in the third quarter of 2019.
Source: FoodBev
Consumer healthcare firm Haleon has appointed Tate & Lyle executive Dawn Allen as its new chief financial officer, effective 1 November 2024. Allen will succeed Tobias Hestler, who has decided to step down from the role, citing a long-term health condition, the company said.
The group said that the bottling line, which adds 6,500 square metres to the existing 60,700-square-metre site, is the next necessary stage in the company’s international development. The leading brand in Campari Group’s global sales, demand for the Italian bitter apéritif has grown by 500% in the last decade.
The partnership will see Coca-Cola adopt new technology to foster innovation and productivity globally. Through the deal, Coca-Cola has made a $1.1 billion commitment to the Microsoft Cloud and its generative AI capabilities.
