U.S – FoodLogiQ, the top SaaS provider of solutions for supply chain transparency, food safety, and traceability, has announced a strategic merger with ESHA Research, a world leader in nutrition analysis and regulatory-compliant labeling software and services.
The combination of FoodLogiQ and ESHA will give the food industry an unmatched ability to extend product development and nutritional analysis into supplier compliance, improved traceability, and automated recall management.
This is due to the increased emphasis on digitizing the supply chain to improve food safety and transparency.
“FoodLogiQ broadens the ESHA platform and expands the universe of potential product extensions and add-on acquisitions that will be attractive to the combined company.
“We will continue to invest meaningfully in product innovation, sales and marketing, and customer support, while closely evaluating complementary add-ons to strengthen the company,” said Riverside Senior Partner Brian Sauer.
The Riverside Company, a global private investor with a concentration on the smaller end of the middle market, contributed funding for the purchase.
Manufacturers of food and beverages, food service businesses, health and wellness groups, producers of dietary supplements, and other business professionals rely on ESHA to efficiently manage the product formulation process and maintain regulatory compliance.
Customers can gather and store ingredient information, issue ingredient certification statements, validate dietary claims, analyze recipe nutrition content, manage product formulations, calculate recipe yields, and more using the company’s software.
“Combined formulation management and tracking solutions are increasingly critical to achieving greater operational efficiencies and transparency throughout the entire food supply chain.
“Partnering with FoodLogiQ will give us the opportunity to offer a more accurate and seamless transfer of data throughout an organization,” said Craig Bennett, CEO of ESHA.
FoodLogiQ’s prior investment was provided by strategic investors Testo, Inc., a global provider of HACCP solutions and IoT technology, and Tyson Ventures, the corporate venture subsidiary of Tyson Foods, along with Clarkston-Potomac Group, a business and technology consulting services firm.
Other previous investors are Renewal Funds, a mission-based venture capital firm, Aliment Capital, a pioneering growth capital investor in food and agriculture technology, Nicola Wealth Management, a Canadian-based asset fund management, and private investment counsel firm, and Greenhouse Capital Partners, a growth equity investor focused on sustainability.