Finances and Deals: Page 25
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Courtesy of Prime Roots
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 Megan Poinski • May 15, 2023 -
Permission granted by Post Holdings
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 Christopher Doering • May 11, 2023 -
Explore the Trendline➔
Spencer Platt via Getty Images
TrendlineInside 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 -
Courtesy of Beyond Meat
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 Megan Poinski • May 11, 2023 -
Joe Raedle via Getty Images
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 Chris Casey • May 9, 2023 -
Courtesy of Ocean Spray
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 Christopher Doering • May 9, 2023 -
Courtesy of Hero Bread
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 Megan Poinski • May 5, 2023 -
Paul Morigi via Getty Images
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 Christopher Doering • May 4, 2023 -
Getty Images
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 Christopher Doering • May 2, 2023 -
Courtesy of Atlantic Natural Foods
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 Megan Poinski • May 1, 2023 -
Scott Olson via Getty Images
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 Chris Casey • April 27, 2023 -
Getty Images
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 Megan Poinski • April 25, 2023 -
Justin Sullivan via Getty Images
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 Christopher Doering • April 20, 2023 -
Permission granted by Olyra Foods
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 Christopher Doering • April 19, 2023 -
Permission granted by Coca-Cola
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 Christopher Doering • April 18, 2023 -
Permission granted by Hershey
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 Christopher Doering • April 17, 2023 -
Courtesy of Molson Coors
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 -
Courtesy of Meati
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 Megan Poinski • April 12, 2023 -
Courtesy of Believer Meats
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 Megan Poinski • April 12, 2023 -
Courtesy of Danone
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 Megan Poinski • April 11, 2023 -
Permission granted by Hain Celestial
Deep DiveThe 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 Christopher Doering • April 11, 2023 -
Getty Images
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 Chris Casey • April 10, 2023 -
Brandon Bell via Getty Images
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 Chris Casey • Updated April 6, 2023 -
Courtesy of Nissin
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 Chris Casey • April 5, 2023 -
Permission granted by NextFoods
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 Megan Poinski • April 5, 2023 -
Christopher Doering/Food Dive
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 Christopher Doering • April 4, 2023
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