Axel Johnson Merges FoodBridge into Novax

Photo: Unsplash @organicdesignco

Axel Johnson continues to consolidate its investment subsidiaries. According to an article in Impact Loop, the latest merger brings FoodBridge into Novax, following the integration of AxSol in May. Novax, Axel Johnson's main investment arm, focuses on sustainable food through its “Future Foods” division. This aligns with FoodBridge’s goal of speeding up the shift to sustainable food systems since its inception in 2022.

Fanny Nachemson, head of FoodBridge, stated, “We will greatly benefit from the extensive expertise within Novax’s ‘Future Foods’ team as we invest in more companies.” So far, FoodBridge has invested in early-stage impact companies like Petgood, Improvin’, and The Mediterranean Food Lab. These investments focus mainly on early-stage companies, whereas Novax has targeted more established firms.

Pär Warnström, head of the Future Foods sector at Novax, noted, “The food sector has seen significant change over the last decade, but there is still a long journey ahead. With a broader mandate, we can focus more deeply on matters critical to our food system and, in turn, Axel Johnson.”

These moves will strengthen Novax's focus on sustainable food transformation, making it Axel Johnson’s hub for food tech investments.

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