Cash Flow: Nestle To Acquire Stake In Mindful Chef, Koa Health Raises €14.1M For Mental Health, Adidas To Sell Reebok?

The game-changing investment, acquisition and funding news impacting the industry and driving the business of wellness this week.

Nestle to acquire majority stake in Mindful Chef

Nestlé is set to acquire a majority stake in healthy recipe box company Mindful Chef, bolstering its food and direct-to-consumer offerings in the UK and Ireland.

School friends Giles Humphries, Myles Hopper and Robert Grieg-Gran founded the company in 2015. The three founders, who are part of the management team, will remain shareholders and continue to run Mindful Chef with the additional support and capabilities of Nestlé’s world-leading food business. Since its launch, the business has delivered over 9.5 million meals to households across the UK. Consumers can choose from 16 specially curated healthy recipes each week. 

Koa Health raises €14.1m to bolster mental health platform

Mental wellness provider Koa Health has raised €14.1m in a Series A investment round led by Ancora Finance Group and Wellington Partners.

The digital mental healthcare provider also announced its successful spin-out from Alpha, Telefónica’s moonshot factory. The company plans to expand internationally and scale to meet the rapidly growing demand for digital mental health products and better serve individuals’ needs.

Sportswear giant Adidas looks to sell Reebok

Sportswear giant Adidas is reportedly looking to sell Reebok, having bought the company for  $3.8bn back in 2005.

Adidas Chief Executive Kasper Rorsted plans to complete the sale by March 2021, according to German publication Manager Magazin. Parties interested in buying Reebok include VF Corp., which owns the Timberland and North Face brands, as well as China’s Anta International Group Holdings, the publication also reported.

The rumours follow Adidas’ decision to slash Reebok’s book value by nearly half compared with 2018, to $995m. 

Israeli start-up Torr secures investment from Mondelēz

SnackFutures, Mondelēz International’s innovation and venture hub, has made a seed investment in Torr, an early-stage Israeli Foodtech Company. Foodtech incubator The Kitchen Hub, powered by Strauss-Group, also featured in the funding round, the terms of which were not disclosed.

“Through The Kitchen’s & SnackFutures’ investment, we have the opportunity to accelerate our technology platform and expand its application,” said Roy Naaman, CEO of Torr. “We are committed to developing innovative products that are based on simple and healthy ingredients you can see and taste for consumers around the world,” he added.

New wellness travel platform Centred secures $1.3m

CENTRED, a new digital platform connecting travellers to wellness experiences has secured $1.3m in a seed round led by T9L.

The London-based startup will use the money to build its digital platform, website, booking system, marketing program, and all-tech onboarding services. The platform serves as a one-stop wellness concierge connecting members with personalised recommendations for fitness studios, spas, telemedicine, restaurants, excursions, retailers, and lounges in more than 200 cities around the world.