Palm leaf specialist LEEF from Berlin/Potsdam, a leading provider of eco-friendly tableware and takeaway packaging made from palm leaves, has acquired the sustainable packaging startup Wisefood.
Wisefood gained widespread recognition in 2018 through its appearance on “Die Höhle der Löwen” – the German reality TV show known to English speaking audiences as Dragons’ Den or Shark Tank – where the company introduced its edible drinking straws.
The innovative company from Garching/Munich also developed edible cups and sells sustainable disposable tableware. Wisefood products have reached millions of consumers at major retailers such as ALDI and EDEKA, as well as wholesalers like METRO and TRANSGOURMET.
Two years after its founding, Wisefood was already reporting six-figure profits and generating a seven-figure annual turnover. The latest financing round in 2021 valued the company at over €5 million. Wisefood has established a fast-growing e-commerce business and acts as a digital wholesaler for clients in the hotel, restaurant, and café (HoReCa) segment, in addition to serving well-known major clients in the catering and retail sectors. Plans for Europe-wide expansion and further product line developments are underway.
“We have been collaborating successfully with LEEF for several years in the field of palm leaf products. This cooperation has always been enjoyable, and we are confident that we have found the perfect buyer in LEEF,” says Philipp Silbernagel, founder and managing director of Wisefood.
“We are happy to welcome Wisefood to the LEEF Group. There is a strong demand for sustainable to-go packaging among restaurants and consumers. This acquisition will allow us to quickly open new sales channels in retail and e-commerce with LEEF while also developing a second strong brand,” says Claudio Fritz-Vietta, Managing Director of LEEF Holding.
Jens Christoph, Second Managing Director of LEEF Holding, adds: “This acquisition presents new opportunities for us to jointly create eco-friendly solutions that inspire our customers and protect the environment. It will significantly boost the total turnover of the LEEF Group this year and enable us to continue our growth trajectory. We plan to merge the two operating companies in 2025 to fully leverage the synergies. At the same time, we are preparing to launch another financing round.”
www.leef.com
