NEW ZEALAND – Fonterra Ventures has entered into its first strategic partnership, teaming up with German active nutrition start-up foodspring through an investment in its parent company, Goodminton AG.
Fonterra Ventures is part of Fonterra Co-operative Group, and is responsible for developing new business models, and engaging, collaborating and exploring business opportunities with innovative start-ups.
Germany-based Goodminton AG, is a venture capital-backed holding company that specialises in sports and lifestyle nutrition brands, operating primarily through one of its group companies, foodspring.
The new partnership will enable Fonterra to tap into the rapidly growing active nutrition consumer segment, which is valued at US$200 billion globally, and forecast to expand significantly in the years to come.
Judith Swales, Fonterra’s Chief Operating Officer, Velocity and Innovation said the deal creates a range of exciting new business and market development opportunities for the Co-operative.
“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.
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,” Judith added.
Founded by Philipp Schrempp and Tobias Schüle, foodspring is a high growth, active nutrition Berlin based start-up.
From whey protein shakes to organic superfoods, foodspring has a strong brand and product portfolio across the healthy eating, weight management and muscle-building categories targeting the consumer’s mind, body and soul.
Their products are sold online across Europe and Asia.
“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,” says Tobias Schüle, CEO and Co-Founder, foodspring.
As for the future, Komal Mistry, General Manager Fonterra Ventures says “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.”
Completion of the investment is subject to regulatory approval by the German Federal Cartel Office