As Lebensmittelzeitung first reported, Nestlé is acquiring a minority stake in Yfood. The food corporation has confirmed the investment to the publication. Founders and managing directors Noel Bollmann and Benjamin Kremer are expected to continue holding the majority of the company’s shares even after the deal. Regulatory approval is still pending. Details on the investment amount are not known. The Munich startup, founded in 2017, sells bottled drinks in various flavors that are meant to replace complete meals.
Yfood-Nestlé deal to drive international expansion
Yfood generated around 120 million euros in revenue last year – double the amount from the previous year. The Munich-based liquid meals are currently offered in over 30 countries at 28,000 retail locations. In addition to Germany, Yfood is represented in retail in Austria, Switzerland, the Netherlands, France, and the United Kingdom. In addition to the Munich headquarters, offices are being established in London, Amsterdam, and Paris. The company employs around 200 employees and has over one million customers according to its own figures.
The startup is hoping the Nestlé deal will provide advantages in international expansion and distribution channels, as it told Lebensmittelzeitung. Nestlé justified its involvement to the publication by citing consumer trends toward snacks and beverages for on-the-go consumption.
We recently tested Yfood ourselves and published a video review:
