Bel Group has acquired Ingenuity Foods’ Brainiac and Little Brainiac brands, US products said to “support brain health”.
California-based Ingenuity Foods markets products “backed by nutritionists and doctors to support brain health and development and overall brain, gut, and immune health”, the French group said in a statement announcing the deal yesterday (6 May).
Asked for further detail on how the products support brain health, Paloma Lopez, the chief sustainability and communications officer of Bel’s North America division, directed Just Food to the Brainiac website and said: “Evidence of Brainiac Brands’ core claim of ‘Supports Brain Health’ for omega-3s and choline has been long established.
“Ingenuity Foods’ Science and Nutrition Advisory board, made up of neurologists, paediatricians and nutritionists, as well as the academics that performed the foundational research on the nutrients, have confirmed that Brainiac snacks are fortified with efficacious levels of each nutrient, providing the functional benefit that supports brain health.”
The deal, struck for an undisclosed sum, includes inventories but no factories nor offices. Brainiac products are made in the US and Canada.
Ingenuity Foods “reports triple-digit annual growth in syndicated retail sales”, Lopez said. “Other financial data is not disclosed.”
In a statement, Peter McGuinness, the former Impossible Foods chief who became CEO of Bel’s business in North America in February, said: “This acquisition gives us the opportunity to accelerate our momentum as the leader in portion-sized fruit, veggie, and dairy snacks that adults trust and kids love.”
In March, Bel announced a $200m investment to double annual output at its South Dakota factory to 20,000 tonnes. The US is Bel’s largest market, contributing about one-third of its revenue.
Bel North America’s portfolio includes Babybel, alongside cheese brands such as The Laughing Cow and Boursin. Its US range also includes fruit-based snacks including Pom’Potes and GoGo squeeZ.
Bel said Ingenuity’s management team will remain in place to continue overseeing operations.
Ingenuity Foods CEO and co-founder Mark Brooks added: “Bel’s dedication to nutrition, innovation, and purpose-driven brands is the perfect fit for our vision.”
In a separate development, US “brain health nutrition” brand Mosh has raised $13m in Series A funding round led by Main Street Advisors.
Mosh, which co-founded by Maria Shriver and Patrick Schwarzenegger, said it will use the capital to support its moves to expand in the US grocery channel, including an upcoming launch at Target.
