Furthermore, NextFoods offers the scale to support over 20,000 retail locations for GoodBelly and Cheribundi products.
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Sports is also a significant growth area for Cheribundi, which now has more than 400 professional and collegiate sports teams as customers, and will be an area of focus for NextFoods. This includes ecommerce, anticipated to increase 56% by 2027 and where, as a company, Cheribundi has seen a 120% increase year-over-year. As a combined entity, NextFoods will focus on growing its strategic channels.
The functional food market is anticipated to reach $26.7 billion by 2027, with a CAGR of 6.7% ( Allied Market Research). "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." "Consumers are continuously looking to manage their health through the foods and beverages they consume," says Andreas Guldin, managing partner and CEO of ECP. "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."Įmil Capital Partners (ECP) is the largest investor in the combined entity. "Cheribundi and GoodBelly are dedicated to providing natural products that offer scientifically-proven health benefits," said Bens. As part of the merger, Marcel Bens, current CEO of Cheribundi, will step into the role of CEO of NextFoods. The combined entity brings together two high growth companies and will seek to capture category and product synergies that will propel them to the forefront of the functional food and beverage trends by harnessing the power of whole-foods based nutrition.
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More than 265 collegiate and professional sports teams, plus thousands of elite and amateur athletes, drink Cheribundi as part of their daily training routines.Ĭheribundi tart cherry juice products are available online and in grocery, natural, mass, club and drug stores nationwide.įor more information about Cheribundi, please visit their website: merger moves NextFoods to the forefront of the booming functional food and beverage marketīOULDER, Colo., April 05, 2023-( BUSINESS WIRE)-NextFoods, a pioneer in the functional food and beverage industry since 2006, announced today the merger of all-natural sports nutrition leader Cheribundi and gut health innovator GoodBelly. Because of its effectiveness, Cheribundi has a unique connection to the athletic world. Known for delivering benefits like boosting immunity, improving sleep, reducing muscle soreness and helping muscles recover faster, Cheribundi tart cherry juices are also one of the best tasting on the market. Cheribundi tart cherry juices are all natural, not from concentrate and are crafted through a one-of-a-kind juicing process developed by scientists at Cornell University that delivers the highest antioxidant strength of any super fruit juice. Founded in 2004, Cheribundi produces one of the most powerful tart cherry juices in the U.S.
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