Food product provider Fazer Group has acquired Sweden-based fruit smoothie brand Froosh from Unilever Ventures, the corporate venturing arm of consumer goods producer Unilever, for an undisclosed amount.
Unilever Ventures had been the majority shareholder in Froosh since it invested an undisclosed sum in the company in 2008. Froosh will join Fazer’s Lifestyle Foods division, which Froosh CEO Brendan Harris will run as managing director.
Froosh is leader in the the Nordic region’ smoothie market, with a 35% share, having previously been fourth before Unilever’s investment. It exports its products to countries including Iceland, Germany, France, Ireland and Japan.
Harris said: “Froosh has enjoyed great success over the past nine years by providing simple, healthy, delicious fruit drinks to busy, health-conscious consumers. We are an ambitious company and the time is now right to further expand our aspirations.”