Finances and Deals


  • Vertical rows of four kinds of Prime Roots' deli meat slices.
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    Courtesy of Prime Roots
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    Quorn partners with Prime Roots to help its expansion

    The U.K. company that pioneered mycelium for food also invested an undisclosed amount in the deli meat alternative maker.

    By June 5, 2023
  • unMeat tuna wrap
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    Permission granted by unMEAT
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    Opinion

    An industry case for the flexitarian diet and shelf stable plant-based foods

    The shelf-stable segment could help drive growth in the plant-based market, according to Gregory Banzon

    By Gregory Banzon • June 5, 2023
  • hormel skippy spam
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    Justin Sullivan via Getty Images
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    Hormel Foods plans further price increases as costs remain elevated

    The owner of Jennie-O, Spam and Planters said while additional pricing decisions will help it manage expenses, it’s keeping a close watch on how they impact consumer buying habits.

    By June 2, 2023
  • aplos, nonalcoholic
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    Retrieved from Aplos.
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    Functional non-alcoholic spirits brand Aplós raises $5.5M

    The three-year-old startup said it will use the money to build up its retail distribution as many shoppers increasingly look to curtail or cease consuming alcohol.

    By June 1, 2023
  • A technician with Shiru works on making and testing plant-based ingredients.
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    Permission granted by Shiru
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    How Givaudan aims to get ahead of future food trends with AI platform

    With its new “futurescaping” technology for food and beverage applications, the ingredient company aims to blend artificial and human intelligence to predict upcoming shifts in consumer desire.

    By June 1, 2023
  • Kellogg's signage outside its headquarters in Michigan.
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    Bill Pugliano/Getty Images via Getty Images
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    Kellogg’s CIO lays out IT roadmap for company split

    The food manufacturing giant will become two separate companies by the end of 2023. That shift brings along technical challenges — and some potential upsides.

    By Roberto Torres • June 1, 2023
  • A hand holds a bundle of herbs above a fiery double-decker grill with Meati Steaks and Cutlets with grill marks on the bottom left, asparagus on the bottom right, and a frying pan of stir fry and corn
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    Courtesy of Meati Foods
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    VC funding for food and beverage plunging amid challenging environment, data shows

    During the last four quarters, the amount of money raised and the number of deals have fallen significantly compared to the same period the year before, according to PitchBook.

    By May 31, 2023
  • Campbell Soup
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    Christopher Doering/Food Dive
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    Campbell Soup sells Emerald nuts business to Flagstone Foods for undisclosed amount

    The nut-focused brand was an outlier in the CPG giant’s broader snacking business, which includes chips, popcorn, cookies, pretzels and crackers.

    By May 30, 2023
  • DouxMatok's Incredo Sugar is made from sugar and manufacturers can use 40% less of it.
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    Courtesy of DouxMatok
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    DouxMatok rebrands to Incredo LTD as it raises $30M

    The Israeli company also announced a joint development agreement with Ferrero, which could provide many big opportunities for the sugar reducing ingredient to show its capabilities.

    By May 24, 2023
  • Ceviche with plant-based tuna chunks from Current Foods, avocado, pepper slices, herbs and sesame seeds on tortilla chips on a checkered plate with a blue background.
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    Courtesy of Current Foods
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    Wicked Kitchen buys plant-based raw fish maker Current Foods

    The all-stock deal is the CPG company’s second alternative seafood acquisition in eight months, and broadens its holdings in an area primed for growth.

    By May 23, 2023
  • Meati launched the Meati Steak Filet, made from mycelium produced through fermentation.
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    Courtesy of Meati
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    Alternative proteins sector is ready for growth as prices drop and expansions are planned

    CRB’s new report finds companies now share many of the same concerns as traditional manufacturers, and have been able to solve some cost challenges.

    By May 16, 2023
  • Tost, Constellation, sparkling water
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    Retrieved from Tost.
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    Corona owner Constellation Brands takes minority stake in sparkling brand Töst

    The investment in the nonalcoholic offering will allow the Mexican beer giant to reach a wider variety of drinking occasions and increase its presence in premium products.

    By May 15, 2023
  • A Beyond Meat double cheeseburger with a toothpick flag of the company's logo sits on a counter.
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    Courtesy of Beyond Meat
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    Beyond Meat sued by investors who claim they were misled

    According to the litigation, the plant-based meat company and its leaders provided an overly optimistic outlook about its growth prospects, causing investors to lose money while a former executive sold his own stock.

    By May 15, 2023
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    ThamKC via Getty Images
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    Organic food sales hit a record in 2022, topping $60B for the first time

    The category saw a 4.3% increase last year to $61.7 billion in sales, which the Organic Trade Association said indicates a continued interest from consumers despite economic volatility.

    By May 15, 2023
  • A variety of fermentation-made deli slices lie on a wooden charcuterie board, which also features grapes, breadsticks, a dish of olives, nuts and a dip. The board is on a table with plates and glasses
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    Courtesy of Prime Roots
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    Prime Roots raises $30M to expand mycelium deli slices

    The company’s portfolio of koji-crafted meat analogs includes ham, turkey, salami, pepperoni, bacon, pate and foie gras.

    By May 15, 2023
  • Post Holdings, cereal, pebbles
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    Permission granted by Post Holdings
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    Post Holdings’ SPAC doesn’t find acquisition target, will return cash to shareholders

    The blank check company, which had a May 28 deadline to find a target, started looking for a partner in the CPG space two years ago. 

    By May 11, 2023
  • Beyond Meat's plant-based Beyond Chicken
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    Courtesy of Beyond Meat
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    Beyond Meat is ‘turning a corner’ as gap between revenues and losses narrows, CEO says

    The plant-based meat company posted declines in sales and revenues almost across the board, but Ethan Brown said they are on target to be cash flow positive later this year.

    By May 11, 2023
  • Ocean Spray, Hershey
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    Courtesy of Ocean Spray
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    Hershey partners with Ocean Spray on chocolate-covered fruit snacks

    The collaboration on cranberry bites further expands the market reach of the confectionery giant, which already has a presence in ice cream, milk, cereal and cookie dough.

    By May 9, 2023
  • Grocery cart of Tyson Foods products, brands
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    Joe Raedle via Getty Images
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    Tyson Foods posts first quarterly loss in 14 years and lowers 2023 sales outlook

    CEO Donnie King told Wall Street analysts he can’t remember a time when the company faced “the highly unusual situation” of its beef, pork and chicken operations experiencing challenges simultaneously.

    By May 9, 2023
  • Packages of Hero Bread products, including Seeded Bread, Flour Tortillas, Classic White Bread, Classic Burger Buns and Classic Hot Dog Buns, are on plates with some products on a white marble surface.
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    Courtesy of Hero Bread
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    Low-carb Hero Bread raises $15M and expands retail presence

    The better-for-you baked goods brand previously backed by Tom Brady and Kevin Durant will be in 2,300 stores nationwide by the end of May.

    By May 5, 2023
  • michelle obama
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    Paul Morigi via Getty Images
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    Michelle Obama launches healthier food and beverage company aimed at children

    Plezi Nutrition's first drink has 75% less sugar than average leading fruit juices, no added sugar, plus fiber and nutrients. The startup plans to expand into additional products.

    By May 4, 2023
  • Two workers on a farm process cranberries.
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    Darren McCollester via Getty Images
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    Absolut and Ocean Spray partner to release RTD drink in 2024

    The cranberry juice maker is the latest nonalcoholic firm to enter the category through a partnership with a booze maker, joining Coca-Cola, PepsiCo and Vita Coco.

    By May 2, 2023
  • Cans of plant-based Loma Linda Tuno.
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    Courtesy of Atlantic Natural Foods
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    Above Food to go public through SPAC merger

    The deal values the Canadian agriculture, ingredient and CPG company at $319 million, and company leaders say there are opportunities for margin growth.

    By May 1, 2023
  • A sign hangs above the door at the Tyson Foods offices on October 06, 2022 in Chicago, Illinois.
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    Scott Olson via Getty Images
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    Tyson Foods to lay off 10% of corporate employees

    The job cuts — which include 15% of senior leadership positions — mark the third major cost-cutting measure by the largest U.S. meat processor in recent months.

    By April 27, 2023
  • A shopper compares two bottles of juice.
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    Elena Perova via Getty Images
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    80% of consumers say companies are raising prices out of greed, according to study

    Three quarters of the shoppers responding to Attest’s survey said they’d noticed the steepest increases at the grocery store, and 71% were willing to switch brands to save money.

    By April 25, 2023