Functional food and beverage parent company, NextFoods, has announced the merger of natural sports nutrition innovator Cheribundi and gut health brand GoodBelly.
Emil Capital Partners (ECP) is the largest investor in the integrated companies and confirmed the merger in a post on social media.
Andreas Guldin, managing partner and CEO of ECP, said: “Consumers are continuously looking to manage their health through the foods and beverages they consume. We are excited to bring together two talented, driven companies to execute on the vision of better-for-you and better-for-the-planet products that meet growing consumer demand.”
NextFoods will focus on growing its strategic channels, including ecommerce and sports and offers the scale to support over 20,000 retail locations for GoodBelly and Cheribundi products.
As part of the merger, the current CEO of Cheribundi, Marcel Bens, will fill the role of CEO of NextFoods. Bens said: “Cheribundi and GoodBelly are dedicated to providing natural products that offer scientifically-proven health benefits. This merger comes at a time when consumers are looking to move beyond lab-based, synthetic products to something that offers the same benefits naturally, thus positioning NextFoods as a leader in this movement”.
The former CEO of NextFoods, Juan Gluth, is stepping into the role of chief commercial officer. He commented: “Adding Cheribundi to the NextFoods family is a significant step in both brands’ futures to foster the continuous improvement of functional food and beverage and we look forward to fuelling the next evolution of innovation. I look forward to working together with our lead investor and new leadership team to bring future success to our combined company.”
© FoodBev Media Ltd 2024
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