Finances and Deals

  • A small sausage and pepper sandwich on a roll sits on a wooden cutting board on a brown surface. A skillet of sauteed peppers is behind it.
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    Courtesy of New Age Eats

    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 • March 29, 2023
  • regenerative agriculture pepsico
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    Courtesy of PepsiCo

    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 • March 22, 2023
  • Hershey, Pirate's Booty
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    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 • March 22, 2023
  • Kellogg kellanova WK logo
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    Courtesy of Kellogg

    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 • March 15, 2023
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    Alex Wong via Getty Images

    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 • March 15, 2023
  • Two sandwich halves are stacked high with deli slices that look like turkey made from The Better Meat Co.'s Rhiza protein, with a company logo flag on a toothpick stuck in one.
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    Courtesy of The Better Meat Co.

    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 • March 14, 2023
  • Darko Mandich and Aaron Schaller stand at a colorful booth for the Mellody brand with a branded backdrop and a table in front of them with sample spoons of honey.
    Image attribution tooltip
    Permission granted by MeliBio

    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 • March 14, 2023
  • Peas planting in the farm
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    Shutterstock/fijifilm123

    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
  • Table with brightly colored jars, hands holding chopsticks and bowls of food
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    Courtesy of Fly By Jing

    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 products
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    Courtesy of Hostess

    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 • March 8, 2023
  • Two cardboard containers with plant-based chicken on a waffle with scoops of plant-based gelato drizzled with honey on top, with branded Tindle toothpicks in front of the Tindle and Mwah logos.
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    Courtesy of Next Gen Foods

    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 • March 6, 2023
  • Conagra
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    Christopher Doering/Food Dive

    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 • March 6, 2023
  • ingredion, pea protein
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    Christopher Doering/Food Dive

    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 • March 2, 2023
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    Courtesy of Clif Bar

    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 • March 1, 2023
  • A double-decker plant-based burger with pickles, red onions, mayonnaise, and red round slices on a poppy and sesame seed bun, with words explaining the ingredients.
    Image attribution tooltip
    Permission granted by Cargill

    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 • March 1, 2023
  • Mondelez International, cakes
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    Permission granted by Mondelez International

    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 • Feb. 27, 2023
  • A small cast iron skillet with Beyond Steak bites inside sits on a gas-powered hot plate with the product package and a dish of tortilla chips with dips is in the background.
    Image attribution tooltip
    Courtesy of Beyond Meat

    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 • Feb. 24, 2023
  • IFF logo
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    Courtesy of International Flavors & Fragrances

    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 • Feb. 23, 2023
  • Packaging for Kellogg's MorningStar Farms Incogmeato brand.
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    Courtesy of Kellogg

    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 • Feb. 23, 2023
  • sausage
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    Mark Kolbe via Getty Images

    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 • Feb. 22, 2023
  • Two pouches of Soylent protein powder and three four different bottles of Soylent beverages sit on a table with a measuring cup and a spoon. A hand touches one of the bottles.
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    Courtesy of Soylent

    Soylent acquired by Starco Brands

    The price paid for the plant-based nutritional beverage and snack brand was not disclosed by either company.

    By • Feb. 22, 2023
  • A scientist in a lab coat tends to plants in a greenhouse.
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    Courtesy of Elo Life Systems

    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 • Feb. 16, 2023
  • IFF logo
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    Courtesy of International Flavors & Fragrances

    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 • Feb. 16, 2023
  • Bodyarmor, coca-cola, sports drink
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    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 • Feb. 15, 2023
  • Inside a grocery store, a grocery shopper browses the meat selection where a "low price" sign hangs.
    Image attribution tooltip
    Brandon Bell via Getty Images

    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 • Feb. 14, 2023