Finances and Deals
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Permission granted by Evo Foods
Ginkgo Bioworks partners with Evo Foods on animal-free eggs
The U.S. biotech company will offer its scientific expertise in precision fermentation to help the Indian plant-based CPG create an ingredient to use in its products.
By Megan Poinski • May 19, 2022 -
Permission granted by Dippin' Dots
Dippin' Dots to be acquired by Icee owner J&J Snack Foods for $222M
The snack maker said the purchase will complement its existing frozen business and leverage its expertise to grow the ice cream brand and enter new markets.
By Christopher Doering • May 19, 2022 -
Courtesy of Motif FoodWorks
Motif FoodWorks launches plant-based meat products
The food tech company, which says it is debuting the offerings following strong demand for test products demonstrating its ingredients, also received an investment from Robert Downey Jr.'s venture capital fund.
By Megan Poinski • May 18, 2022 -
Courtesy of Eat Just
ADM partners with Eat Just on cell-based meat growth medium and product development
This is the ingredient powerhouse's first agreement in the cultivated meat space, and the company says it fits in with its strategic focus on alternative proteins.
By Megan Poinski • May 17, 2022 -
Permission granted by Brightseed
Brightseed raises $68M to accelerate artificial intelligence work
The creator of Forager AI, which maps the health impact of plant-based compounds, plans to use the funding to launch its first FDA-GRAS ingredient.
By Christopher Doering • May 12, 2022 -
Courtesy of Beyond Meat
Beyond Meat shares drop as jerky costs drive $100.5M loss
President and CEO Ethan Brown said the internal costs the company incurred will pay off in the long run, but analysts seem to be skeptical of the strategy.
By Megan Poinski • May 12, 2022 -
Justin Sullivan via Getty Images
General Mills to buy frozen pizza crust maker to boost away-from-home business
The purchase of TNT Crust for an undisclosed amount will add to the fold a fast-growing company while increasing the CPG's exposure to the popular meal offering.
By Christopher Doering • May 11, 2022 -
Dan Kitwood via Getty Images
Tate & Lyle buys chickpea ingredients company Nutriati
The acquisition comes six months after the ingredients giant agreed to distribute the upstart's offerings used in non-dairy, plant-based meat and gluten-free products.
By Christopher Doering • May 5, 2022 -
Permission granted by Whole Earth Brands
Whole Earth Brands carves out its sweet spot in alternative sweeteners
The company's portfolio of products like Wholesome and Equal are designed to give consumers more choice and position it to grab a bigger slice of the $100 billion market dominated by sugar.
By Christopher Doering • May 5, 2022 -
Courtesy of Voyage Foods
Voyage Foods gets $36M investment to scale up
The California company that recreates chocolate, peanut butter and coffee on a molecular level is planning product launches later this year.
By Megan Poinski • May 5, 2022 -
Permission granted by Sanderson Farms
What the stalled Sanderson and Wayne Farms merger says about its potential for closing
As regulators in the Biden administration scrutinize the pending $4.53 billion acquisition, experts point to obstacles that could complicate its approval.
By Chris Casey • May 4, 2022 -
Permission granted by Sonoma Brands
Deep DiveLost and found: Brands neglected by large CPGs thrive under new ownership
Krave jerky, Funfetti baking products and Häagen-Dazs are just a few of the lines that have flourished after being divested, with their new owners spending more on marketing, innovation and improving product quality.
By Christopher Doering • May 3, 2022 -
Courtesy of SimpliiGood
IFF and SimpliiGood collaborate to make spirulina-based smoked salmon
The ingredients powerhouse will provide flavor and aroma attributes to a product that the Israel-based startup plans to make completely out of microalgae.
By Megan Poinski • April 28, 2022 -
Courtesy of Lemon Perfect
Beyoncé participates in Lemon Perfect's $31M funding round
The superstar behind "Lemonade" headlines the clean-label, enhanced hydration brand's Series A round, which it will use to more than double its distribution.
By Megan Poinski • April 28, 2022 -
Courtesy of PIPA
Mars partners with AI provider to accelerate functional food development
The multi-year agreement with PIPA will bring an algorithm searching biomedical data, scientific publications and clinical trials to the company's human and pet divisions.
By Megan Poinski • April 27, 2022 -
Permission granted by Upside Foods
Upside Foods gets $400M investment for commercial-scale facility
The largest single funding round in the cultivated meat space to date included money from Tyson, Cargill and Givaudan, and will help the company bring cell-based animal products to market.
By Megan Poinski • April 21, 2022 -
Courtesy of Impossible Foods
How Temasek became a leading food tech investor
The Singapore-based firm realized eight years ago the sector held the keys to sustainability and longevity. After $8 billion in investments, its agri-food division head is more bullish than ever on its potential.
By Megan Poinski • April 20, 2022 -
Retrieved from A Shoc.
Energy drink A Shoc raises $29M from investors including Keurig Dr Pepper
The beverage giant was an early investor in 2019 and handles national sales and distribution.
By Christopher Doering • April 19, 2022 -
Retrieved from Austin Cocktails.
Constellation Brands buys remaining stake in RTD drink Austin Cocktails
The acquisition deepens the Corona brewer's presence in the fast-growing category that could control nearly 25% of total alcohol beverage volume by 2025.
By Christopher Doering • April 8, 2022 -
Courtesy of Kerry
Kerry buys ayurvedic ingredients maker Natreon
The deal brings several functional herbs and extracts associated with Indian traditional health practices to the Irish company's portfolio.
By Megan Poinski • April 7, 2022 -
Dan Kitwood via Getty Images
Tate & Lyle to acquire dietary fiber business in China for $237M
The company said the purchase of Quantum Hi-Tech Biological will strengthen its market position for the popular ingredient while boosting its food and beverage solutions.
By Christopher Doering • April 7, 2022 -
Kena Betancur via Getty Images
IPOs in Americas plummet 72% during first quarter: EY
Despite several companies going public in recent years, the food and beverage sector has been largely quiet in 2022, with firms like Chobani deciding to delay listing their shares.
By Jim Tyson , Christopher Doering • April 5, 2022 -
Courtesy of Bowery Farming
Indoor farming to reach an estimated $155.6B by 2026: PitchBook
The space could see a more than 14% growth rate, driven by enthusiasm for the sustainability pitch of players like Bowery Farming and Upward Farms, a new report finds.
By Samantha Oller • April 4, 2022 -
Courtesy of Diageo
Diageo acquires super-premium tequila brand 21Seeds
The purchase of the startup for an undisclosed amount accelerates the company's move into more trendy and higher-margin beverages.
By Christopher Doering • April 1, 2022 -
Courtesy of MycoTechnology
MycoTechnology raises $85M for innovation and international expansion
In its Series E round, the fermented mushroom ingredient giant received money from the venture arms of Griffith Foods, Tyson Foods, Bunge, Continental Grain and Maple Leaf Foods.
By Megan Poinski • March 31, 2022
