Fonterra, through its collaboration platform Fonterra Ventures, has teamed up with German nutrition start-up Foodspring, following an investment in its parent company Goodminton.
The deal, which is Fonterra Ventures’ first strategic partnership, is a move to tap into the rapidly growing active nutrition consumer segment.
Founded by Philipp Schrempp and Tobias Schüle, Berlin-based Foodspring sells products including whey protein shakes and organic super foods, focusing on healthy eating, weight management and muscle-building. Its products are sold online across Europe and Asia.
Germany-based Goodminton is a venture capital-backed holding company that specialises in sports and lifestyle nutrition brands.
Judith Swales, Fonterra CEO for velocity and innovation, believes the deal will create a range of new business and market development opportunities for the cooperative.
“Fonterra is a global leader in protein and high-value, advanced ingredients, so it’s only right we should strive to be at the forefront of the active nutrition market,” she said.
“The strategic partnership with Foodspring will accelerate our progress in the category by giving us direct access to a new consumer segment. This investment is a first for Fonterra and supports our strategy to grow in high-value categories.
“Foodspring’s impressive growth trajectory is supported by its strong direct to consumer channel and digital nutrition and wellbeing coach. By leveraging this technology and innovative business model, we’ll be able to share the goodness of dairy with more consumers around the world.”
Tobias Schüle, Foodspring CEO and co-founder, said: “We are pleased to have gained the support of one of the largest and most innovative dairy companies, which is very aligned to our business. We look forward to welcoming Fonterra Ventures on board and the synergies we can capture from our partnership.”
As for the future, Komal Mistry, general manager of Fonterra Ventures, added: “our partnership with Foodspring is just the beginning. Fonterra Ventures has an exciting vision, and we’re excited to be teaming up with start-ups like Foodspring at the forefront of new models in nutrition globally.”
The move follows a deal last year by Fonterra which bought into Oregon-based whey protein concentrate and lactose manufacturer Columbia River Technologies as part of a joint venture.
© FoodBev Media Ltd 2024