Fonterra has announced its entry into the growing active nutrition consumer segment through a strategic partnership with German active nutrition startup Foodspring.
Fonterra’s Chief Operating Officer for Velocity and Innovation Judith Swales says the deal creates a range of exciting new business and market development opportunities with the active nutrition consumer segment valued at $200 billion globally.
“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,” Ms Swales 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.”
Ms Swales notes that Foodspring has enjoyed impressive growth, 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,” she said.
CEO and Co-founder of Foodspring Tobias Schüle says he’s pleased to have the confidence and support of one of the world’s largest and most innovative dairy companies.
“We look forward to welcoming Fonterra Ventures on board and the synergies we can capture from our partnership,” Mr Schüle said.
Completion of the investment is subject to regulatory approval by the German Federal Cartel Office.
