Announcing our investment in Foreverland, a company disrupting the cocoa industry with their carob-based replacement.
The problem Foreverland is solving
Cocoa prices have doubled since the start of the year and sourcing is under increasing pressure from both demand and supply perspectives. Cocoa production is highly concentrated in countries such as Cote D’Ivoire and Ghana, where it faces critical issues such as supply shortages, severe environmental damage (including deforestation and high water usage), and widespread exploitation of child labor.
As regulatory pressures increase along with rising consumer demand for sustainability, the industry is ripe for disruption. The mass chocolate market, which constitutes about two-thirds of the total market, is particularly vulnerable to these cost pressures and sustainability demands. This segment is increasingly embracing affordable alternative ingredients that do not sacrifice quality or functionality in chocolate production and mitigate their environmental impact.
Why Foreverland is positioned to win
Foreverland is strategically positioned to capitalize on this shift by offering its carob-based alternatives, leveraging pulp sidestreams of carob production, for 1:1 cocoa replacement in semi-finished chocolate. Carob, grown in Italy, the second largest producer, trades at a much lower price than cocoa and confers significant benefits on environmental and social sustainability, including 90% reduced water consumption and 80% reduced CO2 emissions. Not only is Foreverland able to offer its B2B confectionary customers with an affordable and sustainable alternative proposition, its semi-finished chocolate scores best-in-class on taste and possesses similar processing properties to cocoa-based chocolate, ensuring compatibility with their customers’ existing machinery and recipes.
“We’re incredibly excited to have Miguel and Newland as an investor. Beyond financial support, Newland offers access to a network of truly smart and talented people. Their hands-on involvement is making a real difference, and we’re confident that, with this support, we can take Foreverland to new heights”
— Massimo Sabatini, Co-founder & CEO
Founding team
The team behind Foreverland brings a robust blend of business acumen and technical expertise, critical for pioneering and scaling innovative food technologies. Massimo Sabatini, CEO, and Giuseppe D’Alessandro, CMO, have founded or operated successful food ventures. Riccardo Bottiroli, CTO, an ex R&D specialist from Ferrero and a PhD graduate from Wageningen University, has also founded previous foodtech ventures and together with Massimo Brochetta, Head of NPD, brings essential product development skills and technical knowledge.
Supported by world-class advisors such as the former COO of Ferrero and the COO of Preziosi Foods, the team is well-equipped to manage the challenges of introducing a novel product into a well-established industry. This collective expertise is instrumental in navigating the technical complexities of ensuring product acceptance and integration into existing manufacturing processes.
Traction and path forward
Foreverland has demonstrated considerable traction in the market by securing partnerships with notable industry players, which will be publicly announced in the coming months. These partnerships are a testament to the product’s viability and market demand and provide a critical path towards scaling production.
As they expand production capacity — aiming to scale 10x by 2030 — Foreverland is positioned for significant growth. At Newland, we are further excited with the planned expansion into new channels and product lines, including nut-free peanut butter and coffee prototypes.