Mars completes acquisition of foodspring nutrition group
Mars, Incorporated has confirmed the completion of acquiring a significant majority stake in the foodspring.
In June, the group announced that it had signed a definitive agreement for the move to gain a controlling interest in the direct-to-consumer targeted nutrition company based in Berlin. It offers which offers products for consumers with needs around sports performance, healthy living and shape, as well as a leading nutrition and fitness platform.
With closing now complete, foodspring has officially joined and become a standalone business within Mars Edge, a segment of Mars, Incorporated that is dedicated to human health and wellness through targeted nutrition. foodspring will continue to be led by its founders Philipp Schrempp and Tobias Schüle and will operate out of its headquarters in Berlin, Germany.
Mars Edge is a new segment of Mars, Incorporated dedicated to human health and wellness through targeted nutrition. It is set up to use the latest science, data and technology to create easy, enjoyable and tailored nutrition solutions. It offers evidence-based products for wider groups of people with shared nutritional and health needs (delivered by brands such as Cocoavia and Gomo), and is creating a business in personalised nutrition.
In doing so Mars Edge is partnering with start-up companies, academia and philanthropic organisations to bring ideas to life. Mars Edge’s purpose is to contribute to better lives through nutrition. Its latest acquisition, foodspring, is regarded as one of Europe’s leading and fastest growing premium brands in the functional food category. Specialising in making targeted nutrition accessible to everyone, foodspring provides nutrition solutions across a number of segments including snacks and health-based bars.
“I want to welcome the foodspring team to the Mars Edge family and look forward to joining forces to build a global targeted nutrition business and pioneer personalised nutrition,” said Mars Edge President, Jean-Christophe Flatin.
BDT & Company LLC acted as financial advisor and Freshfields Bruckhaus Deringer acted as legal counsel to Mars Edge. foodspring was advised by Houlihan Lokey as financial advisor and Lacore as legal counsel.