Finances and Deals: Page 22

  • A double-decker plant-based burger with lettuce and tomato, American cheese, pickles and other toppings sitting on a white wood-grain surface with white wood paneling in the background.
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    Courtesy of Beyond Meat
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    Plant-based sales in food service surge, rebuffing broader slowdown in category

    With COVID-19 restrictions over, the space is seeing promise in the food service sector after a pandemic-induced decline.

    By Elizabeth Flood • Sept. 1, 2023
  • Hain Celestial
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    Permission granted by Hain Celestial
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    Hain Celestial’s CEO describes her ‘prove it’ strategy as challenges loom

    Wendy Davidson, who took over in January, said the organic and natural products giant has reached “an inflection point” where the 30-year-old business can “unlock” its potential.

    By • Aug. 29, 2023
  • Cans of Poppi soda are displayed on a shelf Explore the Trendline➔
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    Spencer Platt via Getty Images
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    Trendline

    Inside the functional beverage frenzy

    Major companies like PepsiCo and Monster are adding ingredients to boost emotional or physical wellness as consumers demand more out of their drinks.

    By Food Dive staff
  • Meati launched the Meati Steak Filet, made from mycelium produced through fermentation.
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    Courtesy of Meati
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    Former Cargill executive joins cultivated meat company Meati

    Nicole Johnson-Hoffman has joined the firm’s board as it commences a nationwide retail launch of its mycelium steak and chicken breast analogs.

    By Elizabeth Flood • Aug. 29, 2023
  • The outside of a factory is seen. A sign with "JBS" in red letters is plastered on the front.
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    Chet Strange via Getty Images
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    Environmental groups petition SEC to halt JBS’ US listing

    Activists say the Brazil-based meat giant's alleged failure to adhere to its climate pledges is a risk for investors. 

    By • Aug. 28, 2023
  • Hu
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    Permission granted by Hu
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    Mondelēz leans on startups to help fuel ambitious growth plans

    The Oreo manufacturer said SnackFutures, its venture capital arm, plans to at least double the number of companies in its portfolio by 2030.

    By • Aug. 28, 2023
  • Hershey, chocolate
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    Scott Olson via Getty Images
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    Hershey to close Dot’s Pretzels factory

    The closure of the North Dakota plant is part of the company's plan to more efficiently increase production capacity at other manufacturing locations. 

    By Kate Magill • Aug. 25, 2023
  • MOSH protein bars
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    Permission granted by MOSH
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    MOSH raises $3M for retail expansion

    Patrick Schwarzenegger — a former investor in trendy CPG products — and his mom, Maria Shriver, bring a unique profile to promote a protein bar focused on brain health.

    By Elizabeth Flood • Aug. 23, 2023
  • highlight, product testing
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    Permission granted by Highlight
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    Product testing firm working with Nestlé, Kraft Heinz raises $18M to fuel growth

    Highlight, which streamlines the product testing process for CPG companies, said the money will be used to expand its business and hire additional employees.

    By • Aug. 21, 2023
  • A brand image of the Eggo brunch cocktail.
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    Courtesy of Eggo, Sugarlands Distilling Company
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    Column

    Leftovers: Kellogg’s Eggo brings boozy brunch to a jar | Entenmann’s debuts ready-to-bake cookies

    The cereal giant partners with spirit specialists from Sugarlands Distilling on a waffle-inspired creamy liqueur, while bakery giant Entenmann’s brings its cookie dough to the refrigerated section.

    By Food Dive Staff • Aug. 18, 2023
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    Matthew Stockman via Getty Images
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    JBS reports $53.2M net loss as chicken glut eases and beef supply tightens

    Despite unfavorable protein conditions, the meat giant expects commodity and input prices to improve in the coming months for pork and poultry.

    By Nathan Owens • Aug. 17, 2023
  • Hogs raised on an Illinois farm.
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    Scott Olson via Getty Images
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    Smithfield owner expects tough market conditions to persist

    Meat processing giant WH Group has seen pork profits plummet this year as high costs and demand challenges take their toll on its U.S. and Mexico operations.

    By Nathan Owens • Aug. 16, 2023
  • Actor Kristin Chenoweth is seen sitting in a sound studio narrating Welch's Fruit Snacks' first-ever storybook, "Sometimes It's Not Stealing," while holding a box of fruit snacks.
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    Courtesy of Welch's Fruit Snacks
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    Welch’s OKs parents stealing Fruit Snacks in first-ever storybook

    “Sometimes It’s Not Stealing,” narrated by actor Kristin Chenoweth, playfully makes a case for parents who indulge in their children’s fruit snacks.

    By Jessica Hammers • Aug. 15, 2023
  • kraft heinz
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    Courtesy of Kraft Heinz
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    Kraft Heinz appoints head of North American operations as CEO

    Carlos Abrams-Rivera will take leadership control of the CPG giant starting in January 2024. Current CEO Miguel Patricio will move to a non-executive role on the company’s board.

    By • Aug. 14, 2023
  • Pinkglow pineapples are seen on a grocery store shelf.
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    Sarah Zimmerman/Agriculture Dive/Food Dive
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    Pink pineapples boost Fresh Del Monte earnings

    Demand is outpacing supply for the produce giant's innovative Pinkglow fruit, which took 16 years of bioengineering to create.

    By • Aug. 10, 2023
  • IFF logo
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    Courtesy of International Flavors & Fragrances
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    Flavor and ingredients provider IFF struggles as consumers cut back on spending

    The company slashed its outlook and said volumes are not expected to recover in the second half of the year.

    By • Aug. 10, 2023
  • pringles kellogg snacks
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    Courtesy of Kellogg
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    Kellogg pins growth in snacking unit on Pringles, Cheez-It ahead of split

    The two brands, along with Eggo, Pop-Tarts and Rice Krispies, will be responsible for about half of the more than $13 billion in sales from the new company called Kellanova.

    By • Aug. 9, 2023
  • Meatable pork sausages with founders CTO Daan Luining and CEO Krijn de Nood
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    Retrieved from Meatable on August 09, 2023
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    Meatable raises $35M as it aims to boost production and lower costs

    The Netherlands-based cultivated meat company plans to enter retailers and restaurants in Singapore starting in 2024, while looking into other markets such as the U.S. in the future.

    By Elizabeth Flood • Aug. 9, 2023
  • Beyond Meat's The Beyond Burgers in their packaging.
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    Getty Images
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    Troubled Beyond Meat reduces 2023 outlook as revenues plummet by almost a third

    The plant-based meat company reported disappointing second quarter results as the brand struggles to educate consumers on the benefits of its products.

    By Elizabeth Flood • Aug. 8, 2023
  • Daily Harvest
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    Permission granted by Daily Harvest
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    Q&A

    8 questions with Daily Harvest founder and CEO Rachel Drori

    The head of the plant-based meal company discusses potential impacts of a major retail deal with Kroger.

    By Judy McGuire • Aug. 8, 2023
  • https://www.anheuser-busch.com/newsroom/shock-top-brews-up-first-major-brand-refresh
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    Retrieved from Anheuser-Busch.
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    Anheuser-Busch to sell 8 beer and beverage brands to pot company Tilray

    The purchase for an undisclosed amount will elevate the Canadian firm to the fifth largest craft beer player in the U.S with brews such as Shock Top and Redhook.

    By • Aug. 8, 2023
  • molson coors bourbon
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    Courtesy of Molson Coors
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    Molson Coors expands further into bourbon with Blue Run Spirits acquisition

    The deal, the beverage company’s first in the spirits space, is part of an aggressive multi-year effort to expand into other categories beyond beer.

    By • Aug. 8, 2023
  • Header image for "Tyson CFO Arrested, Reviving Critics’ Concerns Over Inexperience, Conflict of Interest"
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    CFO Editorial Staff
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    Tyson Foods to shutter 4 poultry plants

    The closures are the latest announced by the company in 2023 as it faces headwinds caused by slowing sales of its products and higher operating costs.

    By • Aug. 7, 2023
  • Rao's, Sovos Brands
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    Retrieved from Sovos Brands.
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    Campbell Soup to buy Rao’s maker Sovos Brands for $2.7B

    The purchase, the largest in five years for the CPG giant, also will allow the soup and snacks maker to expand its portfolio with brands such as Michael Angelo’s frozen meals and Noosa yogurt.

    By • Aug. 7, 2023
  • Kellogg factory Battle Creek Michigan
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    Rey Del Rio via Getty Images
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    Kellogg boosts outlook after raising prices

    The Corn Flakes and Cheez-It maker said cash-strapped consumers are curtailing purchases, which led to a drop in volumes during the quarter.

    By • Aug. 3, 2023
  • plant based
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    Permission granted by Alpha Foods
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    Livekindly Collective expands with acquisition of Alpha Foods

    This is the company’s sixth food brand purchase, and its first in the U.S., as it attempts to build a dominant presence in the plant-based sector.

    By Elizabeth Flood • Aug. 2, 2023