Fonterra Ventures, launched in 2016, is part of New Zealand’s Fonterra Co-operative Group, and is responsible for developing new business models, and engaging, collaborating and exploring business opportunities with start-ups.
Fonterra said the partnership will enable it to tap into the growing active nutrition consumer segment, which is valued at $200bn globally, and forecast to expand in the future.
Judith Swales, Fonterra’s chief operating officer, velocity and innovation, said the deal creates a range of business and market development opportunities for the cooperative.
“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,” Swales said.
Exporting to Asia
Founded by Philipp Schrempp and Tobias Schüle, Berlin-based foodspring has an international team of 100 employees and exports its products throughout Europe and Asia.
From whey protein shakes to organic superfoods, foodspring has a product portfolio across the healthy eating, weight management and muscle-building categories.
Germany-based Goodminton AG is a venture capital-backed holding company that specializes in sports and lifestyle nutrition brands, operating primarily through one of its group companies, foodspring.
Completion of the investment is subject to regulatory approval by the German Federal Cartel Office.