Finances and Deals: Page 23

  • Ceviche with plant-based tuna chunks from Current Foods, avocado, pepper slices, herbs and sesame seeds on tortilla chips on a checkered plate with a blue background.
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    Courtesy of Current Foods
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    Wicked Kitchen buys plant-based raw fish maker Current Foods

    The all-stock deal is the CPG company’s second alternative seafood acquisition in eight months, and broadens its holdings in an area primed for growth.

    By • May 23, 2023
  • Meati launched the Meati Steak Filet, made from mycelium produced through fermentation.
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    Courtesy of Meati
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    Alternative proteins sector is ready for growth as prices drop and expansions are planned

    CRB’s new report finds companies now share many of the same concerns as traditional manufacturers, and have been able to solve some cost challenges.

    By • May 16, 2023
  • Tost, Constellation, sparkling water
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    Retrieved from Tost.
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    Corona owner Constellation Brands takes minority stake in sparkling brand Töst

    The investment in the nonalcoholic offering will allow the Mexican beer giant to reach a wider variety of drinking occasions and increase its presence in premium products.

    By • May 15, 2023
  • A Beyond Meat double cheeseburger with a toothpick flag of the company's logo sits on a counter.
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    Courtesy of Beyond Meat
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    Beyond Meat sued by investors who claim they were misled

    According to the litigation, the plant-based meat company and its leaders provided an overly optimistic outlook about its growth prospects, causing investors to lose money while a former executive sold his own stock.

    By • May 15, 2023
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    Getty Images
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    Organic food sales hit a record in 2022, topping $60B for the first time

    The category saw a 4.3% increase last year to $61.7 billion in sales, which the Organic Trade Association said indicates a continued interest from consumers despite economic volatility.

    By • May 15, 2023
  • A variety of fermentation-made deli slices lie on a wooden charcuterie board, which also features grapes, breadsticks, a dish of olives, nuts and a dip. The board is on a table with plates and glasses
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    Courtesy of Prime Roots
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    Prime Roots raises $30M to expand mycelium deli slices

    The company’s portfolio of koji-crafted meat analogs includes ham, turkey, salami, pepperoni, bacon, pate and foie gras.

    By • May 15, 2023
  • Post Holdings, cereal, pebbles
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    Permission granted by Post Holdings
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    Post Holdings’ SPAC doesn’t find acquisition target, will return cash to shareholders

    The blank check company, which had a May 28 deadline to find a target, started looking for a partner in the CPG space two years ago. 

    By • May 11, 2023
  • Beyond Meat's plant-based Beyond Chicken
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    Courtesy of Beyond Meat
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    Beyond Meat is ‘turning a corner’ as gap between revenues and losses narrows, CEO says

    The plant-based meat company posted declines in sales and revenues almost across the board, but Ethan Brown said they are on target to be cash flow positive later this year.

    By • May 11, 2023
  • Ocean Spray, Hershey
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    Courtesy of Ocean Spray
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    Hershey partners with Ocean Spray on chocolate-covered fruit snacks

    The collaboration on cranberry bites further expands the market reach of the confectionery giant, which already has a presence in ice cream, milk, cereal and cookie dough.

    By • May 9, 2023
  • Grocery cart of Tyson Foods products, brands
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    Joe Raedle via Getty Images
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    Tyson Foods posts first quarterly loss in 14 years and lowers 2023 sales outlook

    CEO Donnie King told Wall Street analysts he can’t remember a time when the company faced “the highly unusual situation” of its beef, pork and chicken operations experiencing challenges simultaneously.

    By • May 9, 2023
  • Packages of Hero Bread products, including Seeded Bread, Flour Tortillas, Classic White Bread, Classic Burger Buns and Classic Hot Dog Buns, are on plates with some products on a white marble surface.
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    Courtesy of Hero Bread
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    Low-carb Hero Bread raises $15M and expands retail presence

    The better-for-you baked goods brand previously backed by Tom Brady and Kevin Durant will be in 2,300 stores nationwide by the end of May.

    By • May 5, 2023
  • michelle obama
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    Paul Morigi via Getty Images
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    Michelle Obama launches healthier food and beverage company aimed at children

    Plezi Nutrition's first drink has 75% less sugar than average leading fruit juices, no added sugar, plus fiber and nutrients. The startup plans to expand into additional products.

    By • May 4, 2023
  • Two workers on a farm process cranberries.
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    Getty Images
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    Absolut and Ocean Spray partner to release RTD drink in 2024

    The cranberry juice maker is the latest nonalcoholic firm to enter the category through a partnership with a booze maker, joining Coca-Cola, PepsiCo and Vita Coco.

    By • May 2, 2023
  • 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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    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