Mars, a leading manufacturer of confectionery in the US, has planned on taking over majority stake in Berlin-based nutrition firm, Foodspring.
Foodspring would function as a standalone business under Mars Edge division, which was setup in the year 2017 and caters to human wellness and health via targeted nutrition.
Financial details regarding the deal as well as the percentage stake that Mars has taken over haven’t been disclosed.
Foodspring was established in the year 2013 by Tobias Schule and Philipp Schrempp along with their financial co-founder Econa. As per Mars, Foodspring is one of the biggest and fastest expanding nutrition giants in the Europe, with 6 focus countries as well as 130 associates currently.
Foodspring’s business includes supplements, protein shakes, snacks, bars, porridge and muesli which cater to the needs dwelling around sports performance, healthy living as well as shape. Besides this, the company also has a fitness and nutrition platform which offers personalized experience to consumers by allowing them to access nutritionists via its customer executive team.
The main aim to begin Mars Edge was to connect food that a person eats with the nutrition that he/she needs, said Jean-Christophe Flatin, President, Mars Edge. And in the last 6 years, Foodspring has emerged to do just that, Flatin added.
Expectedly, the transaction would close in this year’s third quarter.