maconda supports AG Capital with its investment in Layenberger, a leading provider of functional nutrition
maconda News May 2024
The Cologne-based consulting boutique maconda supported Vienna-based mid-market investor AG Capital with a comprehensive Commercial Due Diligence for its investment in Layenberger Nutrition Group. Layenberger is a provider of high-protein, reduced-carb sports nutrition and weight-management products, primarily established in brick-and-mortar retail. maconda’s consultants, highly experienced in foods and dietary supplements, evaluated not only the current positioning but also the outlook in this dynamic market.
Based near Kaiserslautern in the Palatinate, the company develops and sells functional nutrition such as bars, powders, meal replacements, muesli and snacks under the brands Layenberger, Fit+Feelgood, diet5 and Mindtank. The products help people eat a balanced diet and improve their well-being. Customers include leading drugstore chains and grocery retailers, as well as Amazon. In the future, AG Capital will hold a minority stake in the newly established Swiss group holding company Smart Food for Future.
To better understand this high-growth market—which has meanwhile become very diverse and highly competitive—an extensive Commercial Due Diligence was required, with a nuanced view of the business and its value drivers. In addition to established brands and various private labels, the sector is now shaped by many internet-based “D2C brands” that sell directly to consumers and are now also moving into brick-and-mortar retail. As a result, opportunities and specific requirements of brick-and-mortar distribution were a particular focus of the analysis. Several structured shelf checks in drugstores and grocery retail, comparisons of online offerings, and targeted market interviews helped to better understand Layenberger’s product range and market position versus competitors.
The proven approach of linking a wide range of qualitative and quantitative information from different sources delivered a nuanced market model that made it possible to clearly define the initially diffuse demand for sports nutrition and weight management. In addition, maconda’s consultants assessed the attractiveness of the various product categories (including bars, powders, meal replacements and snacks) and the many sales channels. The work was rounded off by a workshop with Layenberger’s management and its various shareholders, who intend to continue supporting the company after AGC’s entry.
About Layenberger
For more than 30 years, Layenberger Nutrition Group has been developing and marketing products for weight loss, weight management, and a high-protein, reduced-carb diet. The products of the brands fit+feelgood, diet5, Mindtank and the flagship Layenberger are available in Germany alone at 12,000 points of sale, as well as in other European countries. The vision of Layenberger’s principal shareholder, Michael Weinand, is to establish the company as the European market leader in functional nutrition. The establishment of Smart Food for Future as the operating group holding company is intended to ensure effective and targeted strategic management of Layenberger Nutrition Group. While Layenberger can continue to operate entrepreneurially, AG Capital will provide the financing required for growth and will also contribute its extensive network.
maconda continues to expand its expertise in sports nutrition and dietary supplements
The maconda team has carried out countless projects in sports nutrition, dietary supplements and food in general, and is undoubtedly among the most experienced consultants in this field. This applies across all stages of the value chain: from raw materials to manufacturing (often organized as outsourced contract manufacturing), product and formulation development, and marketing across all conceivable sales channels: grocery retail, drugstores, own stores, fitness studios and pharmacies for dietary supplements, as well as online. maconda’s engagements include many Commercial Due Diligences, projects for strategic realignment and business model optimization, and improvements in operational performance.
Extensive industry experience: conventional, plant-based and organic-certified products| vegetarian and vegan products| protein and muesli bars | cereals | dietary supplements and vitamins | food in general | brand and private label | eCommerce & D2C | volume channels such as drugstores and grocery retail | Amazon & other marketplaces | athlete and lifestyle target groups | contract manufacturing | consumer goods of any kind | and much more