Mars Inc. is buying a German functional-foods company and is investing in six other companies through its “accelerator” funding program.
Mars has reached an agreement to buy foodspring, a German manufacturer of high-nutrition snacks and bars, supplements, “smart cooking,” muesli and porridge. The Berlin-based company also maintains online content with fitness and nutrition plans and healthy recipes.
foodspring will operate as a standalone business of Mars Edge, a unit of Mars founded last year, dedicated to health and wellness products. The transaction is expected to close in the third quarter of this year.
In addition, Mars has chosen the first six companies for its Seeds of Change Accelerator program, established earlier this year. Targeted toward companies that innovate in flavor and nutrition, the program awards mentorships and grants of up to $50,000 apiece. The companies chosen include:
- True Made Foods, which supplies ketchup, sriracha and barbecue sauce with natural sweeteners;
- Brooklyn Delhi, a maker of Indian-style condiments and sauces;
- Prommus Brands, which manufactures high-protein hummus;
- NoBull Burger, a supplier of plant-based analogue meat;
- Oxtale Co., a maker of flavors for Asian and other cuisines;
- Fora Foods, a manufacturer of dairy-free butter.