Malta, June 27th, 2019 – PeakBridge invests €1.7 m in the Swedish zero sugar food company Luthman Backlund Foods AB (LUB Foods) in order to support the company’s strong international expansion plan.
LUB Foods develops, manufactures and markets tasty and healthy snacks, protein bars, confectionery, ice cream, sweeteners and other “functional foods” under the brand name NICK’s. NICK’s offers “a lot better for you” alternatives with no added sugar, no palm oil, no wheat/gluten and no artificial sweeteners. Only the good stuff.
NICKS’s is currently growing rapidly in over ten European countries. In 2020 NICK’s world-leading, low-calorie ice cream will be launched in several European markets and nationwide in the US. The funding provided by PeakBridge will mainly finance international growth and product development.
PeakBridge is a specialized FoodTech venture fund investing from seed to late stage with a focus on Europe. PeakBridge is the only venture core partner of EIT Food, the €1.6 bn consortia around AgriFoodTech innovation. “NICK’s is a perfect investment for us” says Erich Sieber, PeakBridge’s Founder and Managing Partner, “A highly motivated team bringing an outstanding and tasty indulgence variety with no added sugar to Europe and soon to the US. Bringing healthy and tasty solutions impacting consumers and dealing with sugar reduction is on the top of our list”.
“PeakBridge is an investor but mainly, a strategic partner” says Carl Bäcklund, CEO of LUB Foods. “Through Erich and Nadav at PeakBridge we will access international networks, experience and invaluable advice” Carl adds. “Our joint long-term target is to build leading tasty, but healthy brands for the world.”