Finances and Deals: Page 2


  • 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
  • Minute Maid, Coca-Cola
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    Justin Sullivan via Getty Images
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    Coca-Cola enters fresh fruit through licensing deal for Minute Maid and Simply brands

    In the U.S., Simply Select labeling will be used on Frutura’s Dayka & Hacket fresh citrus while Minute Maid will adorn grapes. Products will begin appearing at retail before July.

    By April 20, 2023
  • Olyra Foods
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    Permission granted by Olyra Foods
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    Sara Lee owner Grupo Bimbo lead investor in $4M funding round for Olyra

    The company’s venture capital arm made a minority investment in the maker of organic and nutritional breakfast biscuits produced with stone-milled ancient Greek grains.

    By April 19, 2023
  • Topo Chico, Coca-Cola, Sabores
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    Permission granted by Coca-Cola
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    Coca-Cola’s Topo Chico Sabores launch aims to broaden reach for mineral water brand

    The new premium sparkling products made with fruit juice and herbal extracts accelerate efforts by the beverage giant to expand distribution and usage occasions for the fast-growing offering.

    By April 18, 2023
  • skinnypop, hershey
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    Permission granted by Hershey
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    Hershey buys 2 popcorn plants to fuel growth of its SkinnyPop brand

    The better-for-you snacking offering, which sold nearly $550 million last year, is a major part of the company’s goal to generate $3 billion in sales from salty snacks within a decade.

    By April 17, 2023
  • A can of Topo Chico Spirited next to a glass filled with carbonated liquid and ice.
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    Courtesy of Molson Coors
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    Molson Coors debuts RTD cocktail Topo Chico Spirited

    The beverage giant is boosting its media spend as it releases the fourth product in its partnership with Coca-Cola.

    By Sara Karlovitch • April 14, 2023
  • A salad with Meati's fermented chicken breast.
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    Courtesy of Meati
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    Alternative proteins sector is growing and needs government support, reports say

    Three studies published by the Good Food Institute show significant progress and expansion in the plant-based, fermented and cell cultivated product segments.

    By April 12, 2023
  • A person in a yellow shirt uses red chopsticks to pick up grilled cultivated chicken and ramen noodles in a green bowl.
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    Courtesy of Believer Meats
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    ADM partners with Believer Meats on cultivated products

    The agreement brings the global food giant’s ingredients and nutritional expertise to enhance cultured meat items, and lays out a path to potentially produce them for commercialization.

    By April 12, 2023
  • danone, plant based, milk
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    Courtesy of Danone
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    Plant-based sales hit $8B in 2022

    The segment posted 6.6% growth during a year marked by inflation and supply chain upheaval, which the Plant Based Foods Association says proves its staying power.

    By April 11, 2023
  • Hain Celestial
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    Permission granted by Hain Celestial
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    Deep Dive

    The ambitious plan by Hain Celestial’s new CEO to restore growth and evolve the better-for-you food giant

    In her first interview since taking over in January, Wendy Davidson said her strategy at the Greek Gods yogurt and Terra chips maker prioritizes increasing innovation, boosting brand awareness and expanding distribution.

    By April 11, 2023
  • Chicken
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    Dimas Ardian via Getty Images
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    Pilgrim’s Pride, Perdue settle in poultry price-fixing case totaling $35M

    These chicken producers join a dozen other companies that have agreed to a settlement with Washington state’s attorney general who says the businesses colluded to increase profits. Five processors have yet to settle.

    By April 10, 2023
  • eggs grocery store
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    Brandon Bell via Getty Images
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    Sen. Sanders calls to ‘break up’ large egg producers as Cal-Maine profits surge 718%

    The lawmaker once again brought up his rallying call to split “Big Ag” after the country's largest egg producer announced its latest quarterly profits.

    By Updated April 6, 2023
  • Nissin's Top Ramen
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    Courtesy of Nissin
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    Sales at Top Ramen maker Nissin surge 41%

    The company, which holds a 40% share of the instant ramen segment in the U.S., is benefiting from strong demand for its core products and newer innovations.

    By April 5, 2023
  • A grid features two images of packages of Cheribundi juices, GoodBelly Fast Melts, GoodBelly juice cartons, and the NextFoods logo
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    Permission granted by NextFoods
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    GoodBelly maker NextFoods acquires tart cherry beverage Cheribundi

    The merger of the gut health probiotic juice brand and the natural sports recovery drink will expand their reach and production, CEO Marcel Bens said.

    By April 5, 2023
  • Bang
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    Christopher Doering/Food Dive
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    Bankrupt Bang likely for sale with Monster the most logical buyer, analyst says

    A Stifel research note said Monster is Bang’s largest creditor in bankruptcy and is a co-rights holder to a 5% perpetual royalty/license for use of the trademark. 

    By April 4, 2023
  • President Joe Biden speaks at podium.
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    Drew Angerer via Getty Images
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    Opinion

    Why Joe Biden needs to have a conversation with Michelle Obama on food policy

    The current administration should take a page or two from the former first lady who said there are limits to government mandates, according to Sean McBride.

    By Sean McBride • April 3, 2023
  • 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
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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 March 29, 2023
  • regenerative agriculture pepsico
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    Courtesy of PepsiCo
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    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.
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    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
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    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
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    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.
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    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.
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    Permission granted by MeliBio
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    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