Finances and Deals: Page 2
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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 Megan Poinski • Dec. 14, 2022 -
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 Christopher Doering • Dec. 13, 2022 -
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 Megan Poinski • Dec. 12, 2022 -
Equinom raises $35M for new non-GMO plant protein ingredients
The Israel-based company is nearly doubling its lifetime funding with this round and will use the money to get its precision-bred pea, soy and sesame ingredients to the market faster.
By Megan Poinski • Dec. 12, 2022 -
IFF plans job cuts as part of company restructuring
The ingredients giant plans to save $100 million annually through headcount reduction, which is a part of a plan to become more streamlined, efficient and customer-centric.
By Megan Poinski • Dec. 8, 2022 -
Keurig Dr Pepper spends $863M for stake in C4 Energy maker
The beverage giant will own 30% of Nutrabolt with opportunities to increase its ownership. The companies also entered into a long-term sales and distribution agreement.
By Christopher Doering • Dec. 8, 2022 -
Ferrero to buy ice cream maker Wells Enterprises
The price and terms of the deal, which will give the Italy-based confectioner a large foothold in the frozen treats business, were not disclosed.
By Megan Poinski • Dec. 7, 2022 -
Precision pollination startup BeeHero nets $42M with backing from General Mills
The startup said its technology allows beekeepers to better monitor their hives, which could help improve crop yields and reduce food insecurity.
By Chris Casey • Dec. 7, 2022 -
A taste of Food Dive’s best stories
From the struggles of plant-based meat to Kellogg’s proposed split, Food Dive writes about the news that moves the CPG industry.
By Food Dive Staff • Dec. 2, 2022 -
Huel closes $24M investment round
Actor Idris Elba is among the backers for the British meal replacement company, which is now valued at $560 million.
By Megan Poinski • Dec. 1, 2022 -
ICL Food Specialties and Protera Biosciences partner on AI-discovered plant-based ingredients
The collaboration, with the goal of quickly scaling up clean-label options, follows a $1 million investment from the global minerals giant last year.
By Megan Poinski • Dec. 1, 2022 -
Perfect Day expands its reach with gelatin company purchase
With the acquisition of India’s Sterling Biotech Limited, the animal-free dairy company doubles its manufacturing capacity and has a path to widen its precision fermentation portfolio.
By Megan Poinski • Nov. 30, 2022 -
Dippin’ Dots could come to retail, new owner says
The ice cream, which J&J Snack Foods recently purchased for $222 million, has a large presence in outlets including movie theaters, stadiums and amusement parks, but not grocery stores.
By Christopher Doering • Nov. 29, 2022 -
Nestlé scales back meal delivery presence through Freshly deal
The CPG giant and private equity firm L Catterton are creating an entity bringing together the business it bought two years ago and Kettle Cuisine. Nestlé will retain a 41% stake in the partnership.
By Christopher Doering • Nov. 28, 2022 -
Once a ‘sleepy category,’ the pretzel grabs its fill of the $106B snacking space
Long mocked as an unloved staple of bars and airplanes, brands such as Hershey’s Dot’s have turned to bold flavors to attract snack-obsessed consumers.
By Christopher Doering • Nov. 28, 2022 -
Post is on lookout for M&A deals, CEO says
Rob Vitale said the manufacturer of Peter Pan peanut butter and Pebbles cereal has a cash-rich balance sheet that could be beneficial as it considers whether to add to its portfolio.
By Christopher Doering • Nov. 23, 2022 -
Deep Dive
How can plant-based meat get back to growth?
As business indicators have worsened, Beyond Meat and other companies in the space have tried new strategies — but analysts say they may have forgotten consumers along the way.
By Megan Poinski • Nov. 17, 2022 -
Vow raises $49.2M to expand cultivated meat production
The Australian company, which focuses on growing uncommon types of meat such as kangaroo, alpaca and quail from cells, plans to launch in its home country and the U.S. next year.
By Megan Poinski • Nov. 14, 2022 -
Deep Dive
From science to CPG: New ventures create opportunities for startups
While many larger players in the food tech space had to build their own facilities and processes from scratch, entities are planning to give those starting out now a smoother beginning.
By Megan Poinski • Nov. 11, 2022 -
B&G Foods ‘actively seeking’ to sell Back to Nature brand
The owner of Ortega and Cream of Wheat said it is also looking at other divestitures that could help it pay down debt, reduce leverage and better position its portfolio for growth.
By Christopher Doering • Nov. 11, 2022 -
As revenue slides, Beyond Meat CEO outlines strategy to improve business
CEO Ethan Brown said today’s economy has not been kind to plant-based meat. He’s aiming to return the company to cash-flow-positive operations in the second half of 2023.
By Megan Poinski • Nov. 10, 2022 -
From science to CPG series
A five-part series examining the challenges food tech companies face when scaling up.
By Megan Poinski • Nov. 9, 2022 -
Retrieved from Athletic Brewing Company.
Keurig Dr Pepper invests $50M in Athletic Brewing
The minority stake deepens the soda and coffee giant’s presence in the nonalcoholic category following its acquisition of ready-to-drink cocktail brand Atypique in June.
By Christopher Doering • Nov. 9, 2022 -
Deep Dive
From science to CPG: How money makes the food tech startup world go round
Fundraising and understanding a realistic timeline are high barriers for these companies as they face R&D and regulatory challenges.
By Megan Poinski • Nov. 8, 2022 -
Deep Dive
From science to CPG: How food tech companies grow into tomorrow’s food manufacturers
It’s difficult to take a scientific discovery that could change the way the world eats and get it to consumers’ plates. Startups need tenacity, money, R&D, patience and an understanding of reality.
By Megan Poinski • Nov. 7, 2022