Finances and Deals: Page 22

  • pringles harvest chips kellogg
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    Courtesy of Kellogg
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    Kellogg’s snacking business can rival competitors after split, CEO says

    Steve Cahillane expressed optimism about the future of the CPG giant, pointing to strength in its iconic brands such as Cheez-It and Pringles.

    By • June 30, 2023
  • Whole Earth Brands, sugar, sweetener, equal
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    Permission granted by Whole Earth Brands
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    Equal sweetener owner Whole Earth receives buyout offer of $4 per share

    Martin Franklin, who already owns 21% of the business, would combine it with Royal Oak Enterprises, a maker of charcoal. Whole Earth pledged to review the offer. 

    By • June 29, 2023
  • Bang
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    Christopher Doering/Food Dive
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    Monster Beverage set to buy Bang Energy for up to $362M

    A court filing showed the closure of the deal is being slowed by a review from the Federal Trade Commission. Bang warned it could be forced to liquidate if the transaction collapses.

    By • June 29, 2023
  • McCormick teams with Drew Barrymore on livestreamed taco night
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    Courtesy of McCormick
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    McCormick & Co. names insider Brendan Foley as CEO

    The CPG veteran, who joined the flavor and spice company in 2014 and most recently served as its COO, will take over on Sept. 1 from outgoing chief Lawrence Kurzius. 

    By • June 29, 2023
  • Haus, The Naked Market
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    Permission granted by The Naked Market
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    Jilted by Constellation Brands, Aperitif maker Haus finds new life after acquisition

    The Naked Market purchased the low-alcohol aperitifs maker for an undisclosed amount and is re-launching it online. The brand shut down last year after a $10 million funding round fell through.

    By • June 29, 2023
  • A burger made from Omeat's cultivated beef cooks on a grill. A spatula is underneath it, poised to flip it over.
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    Courtesy of Omeat
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    Cultivated meat from cows: How Omeat uses plasma to grow beef

    The company, which has already raised $40 million from key investors, says it can make products at the same cost as traditional meat.

    By • June 22, 2023
  • fourth of july 4th cookout
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    Getty Images
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    Fourth of July cookouts still more expensive this year despite inflation cooling: Wells Fargo

    The banking giant recommends grilling hamburgers and chicken breasts, both of which have seen prices fall slightly in the last 12 months.

    By • June 22, 2023
  • Several boxes of Yasso frozen treats on an orange background.
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    Courtesy of Unilever
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    Unilever bulks up premium ice cream with Yasso purchase

    The purchase, for an undisclosed amount, brings the fast-growing better-for-you brand under the consumer goods giant’s umbrella.

    By • June 15, 2023
  • Mezcal Amarás, spirits
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    Courtesy of Mezcal Amarás
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    Maker’s Mark owner Beam Suntory inks distribution deal for Mezcal Amarás

    The alcohol giant said the partnership, which begins next month, is key to further premiumizing its portfolio and expanding its reach in the fast-growing agave-based spirits category.

    By • June 14, 2023
  • Marguerite Zabar Mariscal
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    Permission granted by Momofuku
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    Q&A

    8 questions with Momofuku CEO Marguerite Zabar Mariscal

    The executive talks to Food Dive about her rise from intern to CEO of the popular restaurant group and, more recently, the company’s expanding CPG business.

    By Judy McGuire • June 13, 2023
  • Two people, one dressed as a caveman and the other manning a grill, enjoy Impossible Burgers.
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    Courtesy of Impossible Foods
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    Impossible Foods taps Terry Crews’ agency Super Serious for national campaigns

    The promotions see the plant-based brand using humor to adopt a more inclusive and approachable tone.

    By Sara Karlovitch • June 12, 2023
  • Emerald Nuts
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    Permission granted by Flagstone Foods
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    Q&A

    From private label to branded offerings: How Flagstone is branching out with Emerald nuts acquisition

    In this Q&A, CEO Harry Overly talks about the company’s first foray out of store-brand offerings, its plans for the snacking line and the outlook for future deals.

    By • June 12, 2023
  • A person slices a Meati Crispy Cutlet on a white cutting board that sits on a coral-colored counter.
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    Courtesy of Meati Foods
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    Derek Jeter invests in Meati Foods

    The Baseball Hall of Famer will also serve as an adviser to the mycelium meat alternative maker, which is working to expand its steak and chicken analogs to stores nationwide. 

    By • June 12, 2023
  • Lifeway Foods
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    Retrieved from Lifeway Foods.
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    Lifeway Foods shareholder blasts CEO and board, calls for sale of the kefir maker

    Kanen Wealth Management, which owns 4.1% of the company, claims the board and chief executive are “mis-managing the business” and not looking out for shareholders.

    By • June 8, 2023
  • TreeHouse Foods logo on a white background
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    Courtesy of TreeHouse Foods
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    TreeHouse Foods buys coffee operations from Farmer Brothers for $100M

    The private label company will own a plant with processing capabilities that complement its existing single-serve pod and ready-to-drink coffee businesses.

    By • June 7, 2023
  • Overhead view of three strips of fried MyBacon in a cast iron skillet on a wooden surface. Moss, branches and mushrooms are arranged around the pan, and the package is in the top right corner.
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    Courtesy of MyForest Foods
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    MyForest Foods gets $15M investment and new CEO to continue growth

    The funds, which came from parent company Ecovative Design, will be used to drive the further expansion of mycelium bacon and other products.

    By • June 6, 2023
  • Vertical rows of four kinds of Prime Roots' deli meat slices.
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    Courtesy of Prime Roots
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    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 • June 5, 2023
  • unMeat tuna wrap
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    Permission granted by unMEAT
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    Opinion

    An industry case for the flexitarian diet and shelf-stable plant-based foods

    By infiltrating an entirely new sector, companies can experience an increase in sales, recognition and retailer distribution, according to Gregory Banzon, chief operating officer of Century Pacific Food.

    By Gregory Banzon • June 5, 2023
  • hormel skippy spam
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    Justin Sullivan via Getty Images
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    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 • June 2, 2023
  • aplos, nonalcoholic
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    Retrieved from Aplos.
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    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 • June 1, 2023
  • A technician with Shiru works on making and testing plant-based ingredients.
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    Permission granted by Shiru
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    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 • June 1, 2023
  • Kellogg's signage outside its headquarters in Michigan.
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    Getty Images
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    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
  • A hand holds a bundle of herbs above a fiery double-decker grill with Meati Steaks and Cutlets with grill marks on the bottom left, asparagus on the bottom right, and a frying pan of stir fry and corn
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    Courtesy of Meati Foods
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    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 • May 31, 2023
  • Campbell Soup
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    Christopher Doering/Food Dive
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    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 • May 30, 2023
  • DouxMatok's Incredo Sugar is made from sugar and manufacturers can use 40% less of it.
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    Courtesy of DouxMatok
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    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 • May 24, 2023