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.
Heineken has entered into an agreement with Sanyo Whisbih Group to take over majority ownership of the Long Chuan Zuan Co brewery in Taiwan. With this investment in local production, Heineken says it will become the first international brewer to have a brewery in the country.
Mondelēz International plans to reopen a potato chip plant, located on the outskirts of Kyiv, that was damaged in the ongoing Russia-Ukraine conflict, according to Reuters. The facility, which was closed in March after suffering serious damage, will resume production while still undergoing repairs, a company spokesperson told Reuters.
Diageo has announced it will wind down its Russian business operations over the next six months, with plans to fully withdraw by the end of the year, according to Reuters. In March, the drinks giant suspended all exports of its products to Russia as well as the manufacturing of its beers, which are brewed locally under license by third parties.