The ambition of Ingå Group is to be the first-choice supplier of clean label, plant-based ingredients for a global customer base ranging from artisan bakers to industrial scale manufacturers.
The launch of the new company underpins the key role of specialty ingredients in driving positive change in the food value chain. This will be achieved through building and supporting an ecosystem of autonomous and market-leading businesses for sustainable, long-term growth.
“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,” said Pär Warnström, head of Future of Food at Novax.
“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.”
The future of food
Ingå Group will be led by Adrian Short, cofounder of Ulrick & Short.
“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 that will represent the future of food manufacturing and development,” said Short, who is stepping into the role of CEO.
“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.”
Novax and Ulrick & Short partnered in February 2021. Founded in 2000 by Andrew Ulrick and Adrian Short, the clean label ingredients provider is present in the UK and across Europe. Short will maintain his shareholding in the company.
Honouring family business values
Novax – the wholly-owned subsidiary of the €10bn revenue Axel Johnson Group – recently finalised the acquisition of Louis François.
Founded in 1908, family-owned Louis François offers a portfolio of 300+ functional products specifically tailored for the pastry, chocolate, confectionary and ice cream sectors. The company operates two sites in France – Croissy-Beaubourg and Jouy-sur-Morin – managed by a 30-strong workforce.
“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,” added Warnström.
“As a family-owned firm ourselves, we take pride in our unique position to honour family business values and look forward to working together on growing Louis François further.”
Novax was founded in 1873 and today is owned and run by the 4th and 5th generation of the Johnson family. The Stockholm-based firm partners with entrepreneur-led and family-owned companies that share a long-term vision.
Ecosystem of support
Ingå Group will grow through investing in and partnering with innovative, sustainable, specialist and market-leading businesses within the ingredients sphere; creating a network of autonomous companies and fostering an ecosystem of support to offer opportunities to improve and develop their collective understanding and solutions.
The partnership differentiates from other investment groups in being a strategic partner, working with businesses for long-term growth, allowing partner companies to operate independently and collaboratively.
