The Latest
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Courtesy of Greenleaf Foods
What's behind the slowdown in plant-based meat sales?
With major companies posting lower-than-expected revenues, the once-hot sector is looking less appealing to investors. Three analysts give their take on what happened and the segment's future.
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Monster Beverage exploring deal with Constellation Brands, Bloomberg reports
The exact type of transaction between the energy drink maker and the Corona brewer, whether it involves a merger or a specific asset, is uncertain, the news service said.
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Permission granted by Mondelez International
Mondelēz to spend $123M on Virginia location expansion
The investment will fund construction of a new sales fulfillment center and the installation of a high-speed Oreo production line.
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Courtesy of J.M. Smucker
J.M. Smucker to build $1.1B plant for Uncrustables, creating up to 750 jobs
The Alabama facility will contribute to the company's goal of growing the brand over the next five years to about $1 billion in annual net sales.
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Permission granted by Hidden Valley
ColumnLeftovers: Hidden Valley seasons the holiday with RanchNog; Oatly chills out with new frozen bars
Brand owner Clorox is selling a savory mix for the traditional holiday drink, while Funny Water tries to flatten the competition with alcohol-infused still water.
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Permission granted by The Supplant Company
Supplant and N'Robed Sugar Crystals offer new ways to sweeten
Products include an upcycled baking sweetener that gets its flavor from plant fibers and a beverage product that coats sugar in Reb M.
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Matthew Stockman via Getty Images
JBS enters cell-based meat with BioTech Foods acquisition and $100M investment
The world's largest meat company is the first to make an acquisition in the growing space, and plans to build a production facility in Spain and a cultivated meat R&D center in its home country of Brazil.
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Courtesy of Chobani
Chobani reveals surging sales as it moves closer to IPO
The Greek yogurt maker, which plans to list on the Nasdaq under the symbol "CHO," posted revenue of $1.4 billion in 2020 with losses of $58.7 million, according to an SEC filing.
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Unilever sells Lipton, other teas to private-equity firm for $5B
The sale to CVC Capital Partners includes 34 brands that generated more than $2 billion in sales in 2020. It will allow the CPG giant to focus on higher-growth businesses.
Updated Nov. 19, 2021 -
Courtesy of Kemin Industries
Kemin breaks ground on clean-label proteins plant
Less than a year after acquiring Proteus Industries, the company is ramping up production of its ingredients line for meat and poultry applications and has named a leadership team.
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Courtesy of Local Bounti
Local Bounti aims to prove it's worth the investment despite indoor farming's spotty track record
With the pending close of its SPAC deal, the firm believes it can execute and turn a profit thanks to a focus on unit economics and local distribution in the Western U.S.
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Pomeroy, Erica. (2013). "On the Road with Mike Taylor" [photograph]. Retrieved from U.S. Food and Drug Administration.
Salmonella illnesses linked to onions grows to 892
A handful of companies that may have used or processed the root vegetables imported from Mexico by ProSource Produce and Keeler Family Farms have also voluntarily recalled products.
Updated Nov. 18, 2021 -
Permission granted by Sanderson Farms
Sanderson and Wayne Farms merger 'an opportunity that doesn't come along very often,' CEO says
Clint Rivers said the new company — which would be the third-largest U.S. poultry processor after the deal closes — will benefit from expansion into new categories and growing demand for chicken.
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Permission granted by General Mills
General Mills launches animal-free dairy cheese brand Bold Cultr
Developed under the company's G-Works innovation unit, this cream cheese is the first Big Food foray into using milk proteins made by fermentation.
Updated Nov. 19, 2021 -
Courtesy of Eat Just
USDA extends comment period for cell-based meat labeling
After several requests, the agency said it will be accepting responses on the issue until Dec. 2.
Updated Nov. 17, 2021 -
Permission granted by Goodles
Better-for-you mac and cheese Goodles aims for adult appeal
The new brand, co-founded by former Annie's and Kraft execs, touts its 14 grams of protein and Clean Label Project "Purity Award" as distinctions in the space.
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Permission granted by Del Monte Foods
Del Monte Foods leans into upcycled food movement with canned vegetable certification
The company redirected about 600,000 pounds of green beans that would have been composted or fed to animals into two existing lines.
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Retrieved from Danone.
Danone settles Nestlé suit over packaging design for its Silk creamer
The food giants told a judge they resolved the dispute, according to Bloomberg Law. No details of the agreement were released.
Updated Nov. 16, 2021 -
Courtesy of Hoop Tea
Anheuser-Busch buys alcoholic beverage brand Hoop Tea
The Maryland-based company, known for its infused malt drinks and seltzers, will join the beverage giant's Beyond Beer portfolio.
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Kendall Davis for Food Dive
Tracking the plant-based protein movement
Sophie's Kitchen enters a distribution partnership with Southwind Foods, and Nowadays launches its clean-label plant-based chicken nuggets through e-commerce and on some restaurant menus.
Updated Nov. 24, 2021 -
Smithfield settles with OSHA over COVID-19 outbreak
The pork processing giant will pay a $13,494 fine and create a team of experts to develop health-preparedness training for workers.
Updated Nov. 16, 2021 -
Courtesy of Mosa Meat
How Blue Horizon uses food tech investments to further sustainability
The firm puts funds toward alternative protein companies worldwide, focusing on their potential to improve the environment, human health and animal welfare.
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Courtesy of Sol Cuisine
Marfrig, ADM plant-based venture expands with 2 North American acquisitions
PlantPlus Foods, formed in 2020 to create products for North and South American markets, is buying the maker of Hilary's veggie burgers and private-label manufacturer Sol Cuisine for about $100 million.
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Win McNamee via Getty Images
Biden nominates Robert Califf to return as FDA head
If confirmed by Congress, the cardiologist could shape the framework for cell-based meat and finish the work he started five years ago defining controversial labeling terms.
Updated Nov. 12, 2021 -
Retrieved from General Mills.
General Mills considering sale of Progresso, Hamburger Helper for $3B, Bloomberg reports
The CPG giant is working with Goldman Sachs on a potential sale, which also could include some smaller brands in its portfolio.
