FRANCE – Swedish investment firm Novax has completed the acquisition of a French developer of specialty functional ingredients for artisans and food producers, Louis François.
Founded in 1908, family-owned Louis François has a century-long history of experience in developing and providing ingredients and solutions to its customer base of gastronomic clients and chefs worldwide.
Pär Warnström, Head of Future of Food at Novax, “We are both proud and excited to partner up with Jean-Claude and the team at Louis François in this next chapter of their journey. Louis François illustrates the traits of a true market leader–a fundamentally strong and competitive niche position, an unparalleled brand recognition well-known for quality and service, and a strong and experienced management team.”
“As a family-owned firm ourselves, we take pride in our unique position to honor family business values and look forward to working together with Jean-Claude and the team on growing Louis François further.”
At the same time, Novax has launched Ingå Group, a long-term initiative centered on healthy and sustainable ingredient solutions for the food industry.
The company said Ingå Group will focus on long-term & sustainable partnerships with leading ingredient specialists and create an ecosystem of support.
It will also further Novax’s commitment to a sustainable food system and points to the key role of specialty ingredients in driving positive change in the food value chain.
Ingå Group currently consists of Louis François and UK and Netherlands-based functional ingredient developer and supplier, Ulrick & Short.
Founded in 2000 by Andrew Ulrick and Adrian Short, the clean-label ingredients provider is present in the UK and across Europe. Short will maintain his shareholding in the company.Adrian Short will assume the role of CEO of Ingå Group.
The Group’s ambition is to become the first-choice supplier of ingredient solutions for customers ranging from dining chefs to industrial-scale food manufacturers across Europe. Novax acquired a majority stake in Ulrick & Short in 2021.
Ingå Group will grow through investing in & partnering with innovative, sustainable, specialist & market-leading businesses within the ingredients sphere; creating a network of autonomous companies and fostering an ecosystem of support to offer opportunities to improve and develop their collective understanding & solutions, the investment firm noted.
Adrian said: “We’re delighted to formally launch Ingå Group and are excited to continue our investment in and partnering with businesses that have a long-term and sustainable future, going into sectors that will represent the future of food manufacturing and development.”
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