Mars Incorporated (Mars) has announced that it has signed a definitive agreement to acquire a significant majority stake in German-based foodspring.
The Berlin company is a direct-to-consumer targeted nutrition company, which will remain a standalone business led by the founders Philipp Schrempp and Tobias Schüle within Mars Edge, a segment of Mars.
It is one of the largest and fastest growing targeted nutrition businesses in Europe, with currently six focus countries and 130 Associates.
The premium brand offers on-trend, evidence-based, and data-driven products for consumers with needs around sports performance, healthy living and shape.
Its portfolio includes protein shakes, supplements, snacks & bars, muesli & porridge, smart cooking solutions and a range of beverages.
The company said the new acquisition suits Mars Edge, which is dedicated to human health and wellness through targeted nutrition.
Connecting Food & Nutrition
Jean-Christophe Flatin, President, Mars Edge, said that food spring has been at the forefront of connecting the “food you want with the nutrition you need”.
“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,” he said.
“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.”
Tobias Schüle, co-founder and CEO of foodspring, said that he is looking forward to accelerating the growth of his business through Mars’ global capabilities.
“It was clear from early on in discussions that we shared a vision and passion with the Mars Edge team,” he said.
“Like them, we want to use our depth of knowledge on consumer needs to pioneer the emerging space of personalised nutrition.”
The transaction is subject to customary regulatory approvals, but is expected to close in the third quarter of 2019. Financial terms of the transaction were not disclosed.
© 2019 Checkout – your source for the latest Irish retail news. Article by Aidan O’Sullivan. Click sign-up to subscribe to Checkout.