WMWP Act Legal has advised Vienna-based start-up Saturo Foods on an investment by Square One Foods.
Founded in 2017, Saturo manufactures a line of complete meals which are said to contain “an optimum amount of carbohydrates, proteins, healthy fatty acids, ﬁbre, vitamins and minerals the human body needs be healthy and satisﬁed."
Square One Foods is part of the Austrian Spitz Group, and according to Act Legal, ”is one of the biggest food producers in Austria, working independently.” Saturo Foods produces drinks which can replace whole meals.
According to Act Legal, the capital provided by Square One Foods will be used for the further expansion of Saturo Foods, to ﬁnance distribution plans, and "to recruit the best talent and to expand their product lines."
"We look forward to further expansion into the European market with Square One Foods as a strong partner, and to continue developing innovative products for our customers,” said Saturo founder Hannes Feistenauer. "We have achieved a lot over the past 18 months and are already the leader in the European sector for ready-to-drink 'Complete Food.' At the same time, we are only at the beginning of a revolution in the industry, as our long-term goals include plans for personalized meals for each customer. Obtaining a technological advantage in regard to this will be a signiﬁcant hurdle for our competitors.”
Square One Foods added: "We believe in both the direction of market and the strength of the team. Saturo has the potential to establish a new category of meal replacement drinks and will soon be an integral part of our beverage range, like Red Bull or Coca-Cola."
The Act Legal team was led by Partner Paul Koppenwallner.