LONDON, and HAMPTON, Va. , July 23, 2024 /PRNewswire/ — Registrar Corp (“Registrar”), a Paine Schwartz Partners portfolio company and the U.S.’ leading provider of regulatory and compliance software, has acquired Foodsteps, a pioneering UK-based company dedicated to helping food businesses reduce the environmental impact of their products.
Launched in 2018 by Cambridge University graduate, Anya Doherty, Foodsteps has expanded 14-fold since 2021 is now used by over 150 food businesses worldwide, including Compass Group, Sky and Albert Heijn, to accurately measure, understand, reduce, and communicate their environmental impacts from farm to fork.
The acquisition comes as the food industry – a major contributor to emissions and biodiversity loss – faces accelerating global requirements and mounting pressure to demonstrate progress against near-term sustainability targets.
The EU introduced the Corporate Sustainability Reporting Directive (CSRD) last year, with other major governments seeking to implement similar reporting requirements. Sustainability targets are also under scrutiny. In March, the Science-Based Targets Initiatives (SBTi) identified major food businesses that had failed to meet the deadline to set targets and meet decarbonization commitments.[1]
Foodsteps’ platform analyzes data across company supply chains, incorporating sustainability metrics across farming, packaging, processing, and transport, and providing automated Life Cycle Assessments on products. It gives organizations a level of supply chain transparency that the industry has historically lacked, enabling companies to meet burgeoning reporting requirements, as well as set and monitor targets.
The acquisition of Foodsteps by Registrar Corp will give the platform access to a global market of over 32,000 companies in 190 countries, including 28,000 food businesses, as well as sustainability expertise from Paine Schwartz Partners, the largest private equity firm dedicated to sustainable food chain investing.
Anya Doherty, CEO and Founder, Foodsteps commented: “This acquisition represents a significant milestone not just for our team but also for the future of food sustainability. By combining Foodsteps’ software, data, and expertise in sustainable food with Registrar’s global leadership in regulation and compliance, we are poised to deliver the next generation of sustainability solutions that the food industry needs.”
Brian Thies, Senior Vice President of Corporate Development at Registrar commented: Foodsteps’ data platform is like no other. With industry leading data that is recognised through partnerships with the University of Oxford, WWF and WRAP, the company has a track-record of helping procurement, sustainability, and marketing teams meet reporting standards and net zero goals. By joining forces, we hope to help businesses comply with sustainability and compliance regulations and facilitate the transition to net zero, by enabling the growth of transparent and sustainable global supply chains.”
Notes to Editors
About Registrar Corp: Registrar Corp is a global leader in FDA compliance, offering services, software, and consulting to over 30,000 companies in more than 190 countries.
About Foodsteps: Foodsteps is a London-based company focused on making food a solution to climate and nature crises through its platform, which helps businesses measure and reduce environmental impacts.
About Paine Schwartz Partners: Paine Schwartz Partners is the largest private equity firm dedicated to sustainable food chain investing, with ~$6 billion in assets under management. The firm focuses on productivity, sustainability, and health and wellness across the food and agribusiness value chain.
[1] SBTi identifies several food businesses failing to follow through on targets, https://instituteofsustainabilitystudies.com/insights/news-analysis/sbti-identifies-food-businesses-failing-to-follow-through-on-targets/
SOURCE Registrar Corp; Foodsteps
