BtoV-backed Foodspring sold to trade buyer

US-based Mars will acquire a significant majority stake in the company. Foodspring will become part of Mars Edge, a new business in the group founded in 2017.

Foodspring was founded by Philipp Schrempp and Tobias Schuele with their financial co-founding partner Econa, and will continue to be led by the founders following the transaction.

The company generates an annual turnover of more than €10m.

Previous funding
Ringier Digital Ventures led a €6m funding round for Foodspring in 2017. BtoV, Deutsche Handeslbank and private investors, as well as Econa, also participated.

BtoV and Ringier Digital Ventures took part in a €22m funding round for the company in 2018. The corporate venture division of New Zealand-based dairy products exporter Fonterra also took part in the round. Fonterra had previously supplied Foodspring with the dairy ingredients for its products.

Company
Based in Berlin, the company makes nutrition products such as protein powder. Its portfolio also includes supplements, protein bars, porridge and a range of beverages. Founded in 2013, the company employs 130 people and operates in 17 countries.

People
Mars Edge – Jean-Christophe Flatin (president).
Foodspring – Philipp Schrempp, Tobias Schuele (founders, CEOs).

Advisers
Acquirer – BDT & Company (corporate finance); Freshfields Bruckhaus Deringer (legal).
Company – Houlihan Lokey (corporate finance); Lacore (legal).

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• Topics
• Exits
• DACH
• Consumer
• Germany
• Venture
• Trade sale
• Freshfields Bruckhaus Deringer
• Houlihan Lokey