Finances and Deals
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Cultivated meat maker New Age Eats shuts down
Founder and CEO Brian Spears said the company’s financial woes had nothing to do with the segment’s viability.
By Megan Poinski • March 29, 2023 -
PepsiCo pledges to invest $216M into regenerative agriculture
The soda and snacks giant is partnering with farm groups on new projects that aim to cut three million metric tons of emissions by 2030.
By Chris Casey • March 22, 2023 -
Retrieved from Hershey.
Best known for its iconic confections, Hershey hits its stride in salty snacks
Kristen Riggs, who oversees brands such as SkinnyPop popcorn and Dot’s pretzels, said the 129-year-old company is building scale and grabbing market share as it evolves into a major player in both sweet and salty foods.
By Christopher Doering • March 22, 2023 -
Kellogg’s new company names — Kellanova and WK Kellogg Co — signal ‘disruptive’ fresh start, CEO says
The monikers bring its recognizable brand into two distinct businesses for snacking and cereal, Steve Cahillane told Food Dive.
By Chris Casey • March 15, 2023 -
Bank collapses unlikely to affect large food companies, but smaller upstarts at risk, analyst says
A Mizuho research note said short-term disruption, tighter lending standards and a stronger emphasis on free cash/profitability could prevent some businesses from gaining financing or entering the industry.
By Christopher Doering • March 15, 2023 -
How The Better Meat Co. scrambled to meet payroll after the SVB collapse
CEO and co-founder Paul Shapiro said a fast and unexpected loss of access to capital was one scenario the company wasn’t prepared to handle.
By Megan Poinski • March 14, 2023 -
Food startups describe a ‘roller coaster of emotions’ as Silicon Valley Bank collapsed
Many companies with accounts at the bank were showing off their products at Natural Products Expo West as news went out, sending many founders into a frenzy.
By Megan Poinski • March 14, 2023 -
Sponsored by TraceGains
How ESG is already shaping global food regulatory policy
In less than 30 years, ESG has evolved from a lofty ideal to an investment powerhouse, backed up by nearly every metric.
March 13, 2023 -
Chinese food brand Fly By Jing raises $12M
The brand, which launched in 2018, also announced the appointment of its first chief financial, operations and commercial officers.
By Dani James • March 9, 2023 -
Hostess Brands CEO says snack maker poised to weather economic volatility
The Twinkies and Donettes producer has thrived as consumers show a penchant for indulgent treats, with many people looking for affordable items.
By Christopher Doering • March 8, 2023 -
Next Gen Foods buys plant-based gelato maker Mwah
The buzzy company that created chicken analog Tindle led the seed round for the U.K. frozen treat maker last year, and will be showcasing its products at Natural Products Expo West this week.
By Megan Poinski • March 6, 2023 -
Better together: Conagra Brands CEO downplays possibility of splitting the food giant
In an interview, Sean Connolly said the CPG company benefits from stronger cash flow, greater negotiating power with retailers and deeper margins with its snacking, frozen and plant-based meat brands under one roof.
By Christopher Doering • March 6, 2023 -
How Ingredion benefits from diversification and on-demand ingredients in volatile times
CEO Jim Zallie said the company, which works with more than 18,000 customers, inherently minimizes risk by providing hundreds of ingredients in both staple and trendy categories.
By Christopher Doering • March 2, 2023 -
Food CPG makers are hungry for M&A, but taking ‘disciplined’ approach to acquisitions
Companies at the recent CAGNY conference said even though they are in financially healthy positions, any deals they make will likely be smaller bolt-on purchases.
By Christopher Doering • March 1, 2023 -
Cargill enters alternative fats partnership with Cubiq Foods
The co-development and go-to-market agreement was part of the agribusiness giant’s investment in the Spanish plant-based and cultivated ingredients startup last year.
By Megan Poinski • March 1, 2023 -
Mondelēz aims to bring snacking supremacy to $71B cake and pastry category
Even after tripling sales in the segment during the last three years, the chocolate and biscuit giant remains a distant third with a 3.2% market share.
By Christopher Doering • Feb. 27, 2023 -
Beyond Meat hits earnings expectations, but continues to struggle with sales
CEO Ethan Brown said operational changes are starting to work, and reaffirmed the expectation to be cash flow positive by the second half of 2023.
By Megan Poinski • Feb. 24, 2023 -
IFF sells its Flavor Specialty Ingredients business for $220M
British private equity firm Exponent is buying the business, which the company says generated more than $100 million in revenue during the last 12 months.
By Megan Poinski • Feb. 23, 2023 -
Plant-based meat ‘ripe for consolidation,’ Kellogg exec says
Chris Hood, who heads the CPG’s North American business, said in an interview while “the sector is challenged now,” the company remains upbeat about the category and its MorningStar Farms brand.
By Christopher Doering • Feb. 23, 2023 -
Tyson to acquire Williams Sausage Company
The meat giant’s purchase of the sausage and bacon processor, for an undisclosed sum, comes after a period of M&A inactivity in the meat sector.
By Chris Casey • Feb. 22, 2023 -
Soylent acquired by Starco Brands
The price paid for the plant-based nutritional beverage and snack brand was not disclosed by either company.
By Megan Poinski • Feb. 22, 2023 -
Elo Life Systems raises $24.5M for molecular farmed monk fruit sweeteners
The food tech company, spun out of Precision BioSciences in 2021, also is working with Dole on a disease-resistant banana.
By Megan Poinski • Feb. 16, 2023 -
Activist investor Third Point takes $240M stake in IFF
While many details surrounding the deal remain unknown, Daniel Loeb’s firm has a history of getting involved with food companies and agitating for change.
By Megan Poinski • Feb. 16, 2023 -
Retrieved from BodyArmor.
Coca-Cola struggles to integrate $5.6B purchase of BodyArmor
The purchase of the sports drink, the largest in the company’s history, led to more “disruption in the short-term” than expected, CEO James Quincey said, but he remains optimistic about the brand’s future.
By Christopher Doering • Feb. 15, 2023 -
Food inflation to remain volatile despite recent improvements, trade group says
While prices in January increased 11.3% compared to the same month a year earlier, the annual rate was the lowest since April, according to the government — a sign the surge in grocery costs could be moderating.
By Chris Casey • Feb. 14, 2023