Mars to Acquire Significant Majority Stake in foodspring
Mars Edge, foodspring to build global targeted nutrition business
Mars, Incorporated announced that it has signed a definitive agreement to acquire a significant majority stake in foodspring, a direct-to-consumer targeted nutrition company based in Berlin and led by its founders. On completion of the transaction, foodspring will remain a standalone business led by the founders within Mars Edge, a segment of Mars, Incorporated. It will continue to operate out of its headquarters in Germany.
foodspring was founded by entrepreneurs Philipp Schrempp and Tobias Schüle with their financial co-founding partner ECONA AG in 2013. It is now one of the largest and fastest growing targeted nutrition businesses in Europe, with currently six focus countries and 130 Associates. foodspring is a premium brand that 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. It operates under the principle that “the right food is the key for a fitter, happier, and more productive life”. In addition to its product range, foodspring offers a nutrition and fitness platform to personalize consumer experiences with features like a dedicated “Coach” section, “The Magazine” its stand-alone content site, the Body Check recommendation engine, and access to nutritionists through its customer service team.
Mars Edge, a new business within Mars founded in 2017, is dedicated to human health and wellness through targeted nutrition. The business is using a ‘buy, build, partner’ strategy to drive its business growth. The addition of foodspring to Mars Edge’s portfolio strengthens its purpose to contribute to better lives through nutrition.
The transaction is subject to customary regulatory approvals. It is expected that the transaction will close in the third quarter 2019. Financial terms of the transaction were not disclosed.
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.