Swedish investment firm Novax acquires Louis François

Novax has acquired French developer of speciality functional ingredients for artisans and food producers, Louis François.

Louis François has over a century of experience in developing and providing ingredients and solutions to its customer base of gastronomic clients and chefs worldwide.

Pär Warnström, head of future of food at Novax, said: “Louis François illustrates the traits of a true market leader – a fundamentally strong and competitive niche position, an unparalleled brand recognition well-known for quality and service, and a strong and experienced management team”.

In connection with the acquisition, Novax has launched Ingå Group, a long-term initiative with a focus on healthy and sustainable ingredient solutions for the food industry.

Warnström continued: “The launch of Ingå Group marks our long-term engagement in the ingredients space, forming a scalable platform for our commitment to positive impact on the food value chain. We remain determined to take an active part in driving the industry forward with innovation, health and sustainability in focus by developing novel ingredient solutions.”

Ingå Group currently consists of Louis François and UK and Netherlands-based functional ingredient developer and supplier, Ulrick & Short. The Group’s ambition is to become the first-choice supplier of ingredient solutions for customers ranging from dining chefs to industrial-scale food manufacturers across Europe. Novax acquired a majority stake in Ulrick & Short in 2021.

Adrian Short, co-founder of Ulrick & Short, will assume the role of CEO of Ingå Group. He said: “We’re delighted to formally launch Ingå Group and are excited to continue our investment in and partnering with businesses that have a long-term and sustainable future, going into sectors which will represent the future of food manufacturing and development”.

Short continued: “We approach our investments with absolutely no exit strategy. Our sole focus is long-term development, respecting the already fantastic companies and brands and supporting them where we can add value.”

Financial terms of the deal were not disclosed.