South Korea’s Lotte Residence Purchasing introduced on Monday that it plans to ascertain a three way partnership, The Version Well being, with H.Pio, a specialised well being purposeful meals firm and a subsidiary of the Danish Meals Cluster, Denps, to develop and promote protein well being meals.
Lotte Residence Purchasing and H.Pio have agreed to collectively make investments 2 billion received ($14.4 million) in capital.
Each corporations plan to develop high-profit merchandise and construct a aggressive model.
H.Pio will deal with product planning, uncooked materials sourcing, and advertising, whereas Lotte Residence Purchasing will assist broadcast gross sales and entry into the gross sales community of Lotte Group associates.
The Version Well being is ready to launch its first product, a well being purposeful meals named Denmark Protein Story in August.
The product lineup can be diversified to incorporate protein bars and drinks.
The enterprise goals to increase its enterprise scope to protein-based healthcare, concentrating on an annual gross sales objective of 100 billion received by 2028.
Write to Ji-Yoon Yang at [email protected]