Finances and Deals

  • A petri dish of red liquid with three round black, grey and white fungal colonies floating in it sits on a steel surface.
    Image attribution tooltip
    Courtesy of Michroma

    Michroma raises $6.4M to speed commercialization of natural red food color

    The company, which ferments bioengineered fungi to produce a pigment, received funds from General Mills-backed Supply Change Capital, Dr. Oetker and CJ CheilJedang.

    By Feb. 2, 2023
  • Dole, produce
    Image attribution tooltip
    Retrieved from Dole.

    Dole selling its fresh vegetables division for $293M to Chiquita subsidiary

    The fresh produce giant said proceeds from the sale of the division, which generated revenue of $1.28 billion in 2021, will be used primarily to pay down debt.

    By Feb. 1, 2023
  • Horizon Organic, Danone
    Image attribution tooltip
    Retrieved from Danone.

    Danone exploring options, including a sale, for US organic dairy business

    The review includes the Horizon Organic and Wallaby brands, which represent 3% of the company’s global revenues and have been a drag on growth and margins.

    By Jan. 30, 2023
  • Camino Partners execs and the Belgian Boys brand founders have their arms around each other in front of a pink Belgian Boys trade show booth.
    Image attribution tooltip
    Permission granted by Camino Partners

    Former Kind execs launch incubation and investment firm Camino Partners

    The entity represents a new name and mission for Daniel Lubetzky’s Equilibra Partners Management, with a goal of helping startups on their journey.

    By Jan. 24, 2023
  • Plant-based chicken strips next to a wooden scoop of beans
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    Courtesy of No Meat Factory

    No Meat Factory raises $42M to expand plant-based protein manufacturing

    The Canada-based company makes branded alternative protein items for other companies, and seeks to offer its services globally.

    By Jan. 13, 2023
  • Cones of strawberry, vanilla and chocolate ice cream stick out of a glass jar with an ice cream scoop and spoons on a blurred counter background.
    Image attribution tooltip
    ahirao_photo via Getty Images

    Kerry negotiating 500M euro sale of sweet ingredients business

    The divestment would free the company up to expand in higher-growth areas, and would help potential buyer IRCA become a global leader in components for the segment.

    By Jan. 12, 2023
  • richard's rainwater, bottle, water
    Image attribution tooltip
    Permission granted by Richard's Rainwater

    From cloud to bottle: Richard’s Rainwater turns to raindrops for a sustainable beverage

    The company forecasts sales to top $10 million in 2023, and has benefited from growing demand for earth-friendly products and recent water quality concerns.

    By Jan. 12, 2023
  • Tyson Foods
    Image attribution tooltip
    Permission granted by Tyson Foods

    Tyson adds 150 more jobs to Illinois plant expansion

    The company broke ground on the $180 million addition to its plant — which will now add 400 new positions — in August.

    By Jan. 11, 2023
  • Birch Benders, Sovos Brands, Hometown Food
    Image attribution tooltip
    Permission granted by Hometown Food

    Sovos Brands sells Birch Benders to Hungry Jack pancake owner

    The divestiture to Hometown Food for an undisclosed amount will better position the company for growth by allowing it to focus on other premium brands, including Rao’s and Noosa.

    By Jan. 10, 2023
  • Reese's, Unilever, Hershey, ice cream
    Image attribution tooltip
    Courtesy of Hershey, Unilever

    Reese’s enters the frozen aisle through Hershey and Unilever partnership

    The collaboration between the longtime business allies allows the peanut butter and chocolate candy to expand its presence in stores, and brings a distinctive offering in ice cream treats.

    By Jan. 6, 2023
  • Benson Hill headquarters
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    Courtesy of Benson Hill

    Benson Hill sells Fresh division for $21M to concentrate on ingredients

    Agribusiness company IMG Enterprises closed on its Florida facility, real estate, and packhouse at the end of 2022 and will complete the transaction through a stock purchase this year.

    By Jan. 6, 2023
  • Mondelēz participates in $13.5M funding round for soft pretzel maker

    With the investment in Eastern Standard Provisions, Tapan Shah, head of venture capital for the CPG giant’s SnackFutures arm, became a director at the company.

    By Jan. 5, 2023
  • Shelf tag for plant-based milk at a Giant Food in Washington, D.C.
    Image attribution tooltip
    Catherine Douglas Moran/Food Dive

    Oatly sells some manufacturing capacity to co-packer Ya YA Foods for $98.1M

    After a year plagued with production problems, the publicly traded company will focus on its proprietary oat base, while the Canadian co-manufacturer will take over its Utah and Texas plants.

    By Jan. 4, 2023
  • Moolec Science co-founder and CEO Gaston Paladini and some of the company's bioengineered plants.
    Image attribution tooltip
    Courtesy of Moolec Science

    Moolec Science begins trading on Nasdaq

    The company is the first to use a process it calls molecular farming — using bioengineered plants to produce animal proteins — to go public.

    By Jan. 3, 2023
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    Courtesy of Clif Bar

    2022’s top M&A deals in the food and beverage industry

    Last year saw companies turn to dealmaking as a way to quickly gain presence in fast-growing categories or strengthen their position in existing ones.

    By Jan. 3, 2023
  • IFF logo
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    Courtesy of International Flavors & Fragrances

    IFF sells Savory Solutions Group for $900M

    The sale to private equity firm PAI Partners is the first of three divestments CEO Frank Clyburn said were coming soon at the company’s investor day earlier this month.

    By Dec. 22, 2022
  • Just the cheese, bar
    Image attribution tooltip
    Retrieved from Just the Cheese.

    John B. Sanfilippo buys baked cheese brand to expand snacking portfolio

    The purchase of Just the Cheese for an undisclosed amount brings the nut and dried fruit products maker into new categories and complements its existing portfolio. 

    By Dec. 21, 2022
  • 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.
    Image attribution tooltip
    Courtesy of The Better Meat Co.

    Maple Leaf Foods partners with The Better Meat Co. to develop mycelium products

    The agreement, which is the first in alternative protein since the Canadian meat giant cut back on its plant-based division, is focused on R&D and innovation with Rhiza protein.

    By Dec. 21, 2022
  • Packages of Tru Fru's frozen and freeze-dried snacks grouped together.
    Image attribution tooltip
    Courtesy of Tru Fru

    Mars acquires better-for-you snack maker Trü Frü

    Terms of the deal were not disclosed, but the purchase of the chocolate-covered fruit treat brand will add to a powerful division of healthier options for the global food giant.

    By Dec. 20, 2022
  • Dentyne, gum, Mondelez
    Image attribution tooltip
    Retrieved from Mondelez.

    Mondelēz International to sell gum business for $1.35B

    The sale to Perfetti Van Melle Group, a European gum and confectionery maker, includes two manufacturing facilities and brands such as Trident and Dentyne in the U.S., Canada and Europe.

    By Dec. 19, 2022
  • Back to Nature, B&G Foods
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    Courtesy of B&G Foods

    B&G Foods to sell Back to Nature brand to Barilla America

    CEO Casey Keller said the sale is part of the company’s portfolio focusing effort, and can help reduce long-term debt. Terms of the deal were not disclosed.

    By Dec. 16, 2022
  • Bright green flags fly in front of the L-shaped Novozymes office building, with a mirrored wall straight ahead and white brick with small windows to the right. People walk on a covered path.
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    Courtesy of Novozymes

    Chr. Hansen will merge with Novozymes in a $12.3B deal

    The sale, which is expected to close in the fourth quarter of 2023 at the earliest, would create a company with extensive expertise in enzymes and natural microbials.

    By Dec. 15, 2022
  • Packages of Papa Pita Bakery's buns, bread, bagels, English muffins,tortillas and flatbreads arranged on a white brick shelf area with wheat sheafs in the background.
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    Courtesy of Papa Pita Bakery

    Flowers Foods buys Papa Pita Bakery for undisclosed amount

    With the purchase of the Utah company, the baking giant adds several regional brands to its portfolio, as well as a state-of-the-art manufacturing facility and distribution network.

    By Dec. 14, 2022
  • Poppi, soda
    Image attribution tooltip
    Courtesy of Poppi

    Functional soda Poppi raises $25M

    The beverage maker also bulked up its C-suite by appointing former Anheuser-Busch executive Lana Buchanan as its chief marketing officer.

    By Dec. 13, 2022
  • Karim Pichara and Matias Muchnick are dressed in black pants and shirts, pouring out glasses of milk on a blue background.
    Image attribution tooltip
    Courtesy of NotCo

    NotCo raises $70M to make its AI available to other companies

    The Chile-based company will build on its recent joint venture with Kraft Heinz to bring the power of its Giuseppe algorithm to an array of manufacturers.

    By Dec. 12, 2022