Finances and Deals
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Courtesy of Prime Roots
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 Megan Poinski • June 5, 2023 -
Permission granted by unMEAT
OpinionAn 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 -
Justin Sullivan via Getty Images
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 Chris Casey • June 2, 2023 -
Retrieved from Aplos.
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 Christopher Doering • June 1, 2023 -
Permission granted by Shiru
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 Chris Casey • June 1, 2023 -
Bill Pugliano/Getty Images via Getty Images
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 -
Courtesy of Meati Foods
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 Christopher Doering • May 31, 2023 -
Christopher Doering/Food Dive
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 Christopher Doering • May 30, 2023 -
Courtesy of DouxMatok
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 Megan Poinski • May 24, 2023 -
Courtesy of Current Foods
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 Megan Poinski • May 23, 2023 -
Courtesy of Meati
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 Megan Poinski • May 16, 2023 -
Retrieved from Tost.
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 Christopher Doering • May 15, 2023 -
Courtesy of Beyond Meat
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 Megan Poinski • May 15, 2023 -
ThamKC via Getty Images
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 Chris Casey • May 15, 2023 -
Courtesy of Prime Roots
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 Megan Poinski • May 15, 2023 -
Permission granted by Post Holdings
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 Christopher Doering • May 11, 2023 -
Courtesy of Beyond Meat
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 Megan Poinski • May 11, 2023 -
Courtesy of Ocean Spray
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 Christopher Doering • May 9, 2023 -
Joe Raedle via Getty Images
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 Chris Casey • May 9, 2023 -
Courtesy of Hero Bread
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 Megan Poinski • May 5, 2023 -
Paul Morigi via Getty Images
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 Christopher Doering • May 4, 2023 -
Darren McCollester via Getty Images
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 Christopher Doering • May 2, 2023 -
Courtesy of Atlantic Natural Foods
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 Megan Poinski • May 1, 2023 -
Scott Olson via Getty Images
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 Chris Casey • April 27, 2023 -
Elena Perova via Getty Images
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 Megan Poinski • April 25, 2023
