Dive Brief:

• GoGo squeeZ owner Bel Group purchased Ingenuity Foods, which makes Brainiac functional fruit snacks designed to improve brain health. The purchase price was not disclosed.
• Bel said the addition of Brainiac complements its existing portfolio of on-the-go, better-for-you, portion-sized snacks made from fruit, veggies and dairy. Brainiac manufactures fruit pouches, fruit snacks and gummy vitamins to support brain, gut and immune health in kids and adults.
• The Paris-based Bel generates one-third of its sales in the U.S. through its Babybel, GoGo squeeZ, The Laughing Cow and Boursin brands and has been investing to further build its presence in the country.

Dive Insight:

Bel’s new North America CEO Peter McGuinness has wasted little time in pouncing on a deal after telling Food Dive recently he was “pretty seriously” looking at M&A to become a leader in healthy snacking. 

As consumers gravitate toward healthier, portable offerings, Bel has already been a major beneficiary thanks to its portfolio, which is heavily focused on dairy, vegetables and fruit. Brainiac doubles down on that commitment and helps Bel accelerate its goal to be a dominant player in functional snacking.

Brainiac features nutrients such as Omega-3 DHA, choline and lutein for brain development and performance, offering a differentiated option in the increasingly crowded functional foods space that's been dominated by protein and fiber. Brainiac saw triple-digit sales growth during the last year, according to Bel. The brand was founded in 2019 by two dads seeking nutrients to support the development and function of the brain in a product people wanted to consume.

“This move gives us more scale, product choices and breadth across our portfolio and truly is a 1 + 1 = 3 opportunity for us and Ingenuity,” McGuinness said in a statement announcing the deal. “This acquisition gives us the opportunity to accelerate our momentum as the leader in portion-sized fruit, veggie, and dairy snacks that adults trust and kids love.” 

McGuinness, who joined Bel earlier this year, previously said he inherited a brand portfolio of “sleeping beauties” that the company had been too quiet in promoting. He said Bel has strong financials, but that there were opportunities to accelerate growth through its existing brands and M&A. 

Earlier this year, Bel announced it would spend $200 million to double output at a Babybel cheese production plant in Brookings, South Dakota, marking the largest U.S. investment in the company’s history. It also announced a partnership with food technology company Foodberry to develop a lineup of better-for-you snacks using real fruit, and launched a protein-packed Babybel cheese.