Fonterra sells its interest in Goodminton for NZ$64mn
As part of Mars’ purchase of a majority share in foodspring, a German targeted nutrition business, New Zealand dairy cooperative Fonterra has sold its interest in foodspring’s parent Goodminton A.G.
Fonterra’s Chief Operating Officer NZMP, Kelvin Wickham, said: “From day one both foodspring and ourselves could see how our two companies would complement each other to make the most of the fast-growing sports and active market. foodspring had established a strong on-line sales channel and a digital nutrition and wellbeing coach, and we’re the protein innovators with a range of high value, advanced ingredients. Both companies could see the growth opportunities within the targeted nutrition market. And that’s exactly what’s happened. Over the past 18 months foodspring has become the fastest growing targeted nutrition brand in Europe.
“The partnership gave us immediate and direct access to the fast-growing consumer Sports and Active Lifestyle segment. This is not just about professional athletes or bodybuilders anymore. Today it’s about everyday people taking more interest in their health and wellbeing, living longer and leading more active and healthier lives. This continues to be a really attractive market for our dairy protein and dairy speciality ingredients and we will keep up the momentum in this market. We are excited about continuing our relationship with foodspring and its new owners Mars, who will remain a valued customer of our NZMP ingredients business.”
Fonterra’s partnership with foodspring was described as an early success for the company’s sports and active lifestyle business. Fonterra will realise a gain of NZ$64mn (US$42.9mn) from the sale.
Fontera said that the sports and active lifestyle market is one of the fastest growing categories within the food and beverage industry, worth an estimated $200bn globally.
“Nutrition plays a key role, and a great example of this is people across the world recognising protein as an important ingredient to support their health, with milk among the holy grail of protein sources,” said NZMP Director Sports and Active Nutrition, Komal Mistry. “We’ve got a strong 60-year track record when it comes to protein and have a remarkable Research and Development team who are always finding new ways to innovate,”
- Yili retains top spot in Asian dairy, announces investment plans for Southeast AsiaLeadership & Strategy
- Yili recognised for strength of talent development programmeLeadership & Strategy
- Yili lands US$3.43bn net profit in Q1Leadership & Strategy
- Fonterra partners with HCL Technologies on IT infrastructureTechnology