The Latest
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Retrieved from Eastern Standard Provisions.
Mondelēz participates in $13.5M funding round for soft pretzel maker
With the investment in Eastern Standard Provisions, Tapan Shah, head of venture capital for the CPG giant’s SnackFutures arm, became a director at the company.
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Christopher Doering/Food Dive
Exclusive: PepsiCo to bring iconic chip brands into new snacking categories in 2023
Cheetos-flavored pretzels, Doritos co-branded jerky and a cracker with one of its major chip brands will allow the CPG giant to change how shoppers view its snacks and increase occasions when they are consumed.
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Catherine Douglas Moran/Food Dive
Oatly sells some manufacturing capacity to co-packer Ya YA Foods for $98.1M
After a year plagued with production problems, the publicly traded company will focus on its proprietary oat base, while the Canadian co-manufacturer will take over its Utah and Texas plants.
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Courtesy of Clif Bar
2022’s top M&A deals in the food and beverage industry
Last year saw companies turn to dealmaking as a way to quickly gain presence in fast-growing categories or strengthen their position in existing ones.
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Courtesy of Moolec Science
Moolec Science begins trading on Nasdaq
The company is the first to use a process it calls molecular farming — using bioengineered plants to produce animal proteins — to go public.
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paci77 via Getty Images
Cal-Maine hits record earnings as egg prices skyrocket, but shares drop
The largest egg producer in the U.S. said bird flu ravaging flocks led to a 110% year-over-year sales increase in its most recent quarter, but there are some signs prices of the protein could recede as the new year takes hold.
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Nordroden via Getty Images
How ADM helps other fermentation companies grow and innovate
Through investments, expertise and agreements, the global commodities giant has worked with many startups, helping them transform their technology into food.
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Courtesy of Benson Hill
Bunge to spend $550M on protein concentrate plant
The Indiana facility, which will create about 70 full-time jobs, will make key ingredients used in the production of plant-based foods, processed meat and other products.
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Retrieved from Just the Cheese.
John B. Sanfilippo buys baked cheese brand to expand snacking portfolio
The purchase of Just the Cheese for an undisclosed amount brings the nut and dried fruit products maker into new categories and complements its existing portfolio.
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Courtesy of International Flavors & Fragrances
IFF sells Savory Solutions Group for $900M
The sale to private equity firm PAI Partners is the first of three divestments CEO Frank Clyburn said were coming soon at the company’s investor day earlier this month.
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Scott Olson via Getty Images
Genetically modified hens could end the culling of male chicks, tech company says
Huminn said its technology could allow chickens to produce only female offspring, which may eliminate the costs of sorting and killing males in commercial egg production.
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Chris Casey/Food Dive
How upcycled food companies tackle their biggest challenge
As more brands create products using ingredients that would have gone to waste, leaders in the industry say educating consumers is key to success.
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Courtesy of The Better Meat Co.
Maple Leaf Foods partners with The Better Meat Co. to develop mycelium products
The agreement, which is the first in alternative protein since the Canadian meat giant cut back on its plant-based division, is focused on R&D and innovation with Rhiza protein.
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Courtesy of MyForest Foods
Inside MyForest Foods’ strategy to make mycelium bacon sizzle
Research, ingenuity and inspiration to “do something useful” are leading the up-and-coming startup to eventually grow 3 million pounds of mushroom roots a year at its Swersey Silos facility.
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Courtesy of Tru Fru
Mars acquires better-for-you snack maker Trü Frü
Terms of the deal were not disclosed, but the purchase of the chocolate-covered fruit treat brand will add to a powerful division of healthier options for the global food giant.
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Dmytro Skrypnykov via Getty Images
Many dark chocolates have high levels of cadmium and lead, study finds
Consumer Reports looked at the amount of heavy metals in 28 popular brands, though the issue already was litigated, settled and studied, and confectioners have committed to making improvements.
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Retrieved from Mondelez.
Mondelēz International to sell gum business for $1.35B
The sale to Perfetti Van Melle Group, a European gum and confectionery maker, includes two manufacturing facilities and brands such as Trident and Dentyne in the U.S., Canada and Europe.
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Hain Celestial to sell its Westbrae Natural brand to Bush Brothers
The sale of the organic bean line for an undisclosed amount will allow the company to simplify its portfolio while improving its growth profile, margins and cash flow.
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Courtesy of Kellogg
ColumnLeftovers: New Kellogg treats make winter sweet; Stony Creek and Bigelow tea up new brews
The cereal giant is bringing two indulgent new offerings to breakfast and snack time, and vegan brand GrownAs* debuts mac and cheese with 10 grams of protein per serving.
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Courtesy of B&G Foods
B&G Foods to sell Back to Nature brand to Barilla America
CEO Casey Keller said the sale is part of the company’s portfolio focusing effort, and can help reduce long-term debt. Terms of the deal were not disclosed.
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Courtesy of Ben & Jerry's
Unilever says Ben & Jerry’s Israel business lawsuit is settled
The independent board affiliated with the ice cream brand filed the initial lawsuit during the summer, arguing the CPG company overstepped its authority by selling its arm in the Middle Eastern country.
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Permission granted by Coca-Cola
How Coca-Cola turns to its Freestyle machine to create shelf-ready flavors
The CPG’s 50,000 dispensers, which pour more than 11 million drinks each day, have inspired four beverage creations that have made it to bottles and cans.
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Courtesy of Oobli
Oobli launches protein-sweetened chocolate bar
The company, previously known as Joywell Foods, has three varieties available for online presale, all of which have 70% less sugar than traditionally made competitors.
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Permission granted by Whole Earth Brands
Equal sweetener owner Whole Earth announces CEO transition plan
The company’s board appointed member Michael Franklin to serve as its interim head starting Jan. 1. He replaces Albert Manzone, who has run the firm since 2016.
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Courtesy of Novozymes
Chr. Hansen will merge with Novozymes in a $12.3B deal
The sale, which is expected to close in the fourth quarter of 2023 at the earliest, would create a company with extensive expertise in enzymes and natural microbials.
