NextFoods, a leader in the US functional food and beverage industry, announces it is merging dairy-free probiotic brand GoodBelly with sports nutrition innovator Cheribundi. NextFoods says the merger will bring together two high-growth companies to focus on expanding strategic channels to propel them to the forefront of whole foods-based nutrition.
“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”
As part of the merger, Marcel Bens, current CEO of Cheribundi, will also assume the role of NextFoods CEO. NextFoods notes that both companies will retain separate branding and audiences.
Good Belly produces a line of probiotic-infused juices, shots and supplements created to support gut health. Unlike many probiotic beverages, its fruit-based JuiceDrinks are completely dairy-free. GoodBelly’s product portfolio can be found at 20,000 major retail locations across the US, and is also available on Amazon.
Cheribundi sells a line of performance drinks featuring tart cherry juice, and reports its customers include 400 professional and collegiate sports teams.
Growing e-commerce
“Cheribundi and GoodBelly are dedicated to providing natural products that offer scientifically-proven health benefits,” said Bens. “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.”
As a combined entity, NextFoods states it will focus on expanding its strategic channels, including e-commerce, which is anticipated to increase 56% by the year 2027. As a company, Cheribundi has seen a 120% increase in e-commerce business year-over-year. Through the merger, NextFoods says it has the capability to scale both consumer brands to over 20,000 retail points.
“Evolution of innovation”
“Consumers are continuously looking to manage their health through the foods and beverages they consume,” says Andreas Guldin, managing partner and CEO of Emil Capital Partners, the largest investor in the combined entity. “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.”
“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 fueling the next evolution of innovation,” said Juan Gluth, former CEO of NextFoods who is now becoming Chief Commercial Officer. “I look forward to working together with our lead investor and new leadership team to bring future success to our combined company.”
