Finances and Deals: Page 25

  • An aerial view of SunOpta's Midlothian, Texas factory, surrounded by construction trailers, roads and woods.
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    Permission granted by SunOpta
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    Opinion

    How food processors can tap into tied-up capital with sale leasebacks

    By selling property and immediately leasing it back, food processors can get a fresh layer of cash while maintaining long-term control of their facilities, writes Malik Franklin, a partner at SLB Capital Advisors.

    By Malik Franklin • Oct. 20, 2022
  • Nestle, Seattle's Best, coffee
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    Courtesy of Nestlé
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    Nestlé buys Seattle’s Best Coffee from Starbucks

    The acquisition boosts the CPG giant’s U.S. presence in the category where it already owns brands like Nescafé and Nespresso.

    By • Oct. 19, 2022
  • Mergers and acquisitions Explore the Trendline➔
    Trendline

    Mergers and acquisitions

    Declining sales and slowing consumption have more companies divesting brands, opening the door for smaller players and private equity firms to expand their portfolios.  

    By Food Dive staff
  • Beyond Meat Jerky is the first product from the Planet Partnership with PepsiCo.
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    Courtesy of Beyond Meat
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    Beyond Meat lays off 200 employees and slashes its revenue outlook

    The plant-based meat company, which is eliminating about a fifth of its workforce after cutting staff in August, said the latest job reductions can drive more sustainable growth.

    By • Oct. 14, 2022
  • Several pallets of greens are on conveyor belts and stacked in a metal structure inside Soli Organic's indoor Biofarm in Elkwood, Virginia
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    Courtesy of Soli Organic
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    Soli Organic raises $125M to further expansion plans

    The indoor agriculture company will use these funds — as well as the $170 million in financing it’s received in the last year — to build new farms to grow herbs and other organic crops in soil.

    By • Oct. 12, 2022
  • Bang energy drink
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    Thai Phi Le/Food Dive
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    Bang Energy’s parent company files for bankruptcy

    After court battles with PepsiCo and Monster, Vital Pharmaceuticals owes more than $400 million to the two beverage companies. It said its partnership with the soda giant caused its market share to decline.

    By • Oct. 11, 2022
  • Diplomático Rum, brown-forman
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    Permission granted by Brown-Forman
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    Brown‑Forman to acquire Diplomático premium rum

    The purchase gives the Jack Daniel’s maker its own presence in the category — which is new for the beverage company — with a quickly growing international brand.

    By • Oct. 7, 2022
  • Water brand Liquid Death turns haters' comments into album
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    Courtesy of Liquid Death
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    Liquid Death raises $70M

    The brand selling still and sparkling water in aluminum cans is now valued at $700 million. It has expanded its retail presence 275% during the last year.

    By • Oct. 4, 2022
  • An image of the White House.
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    Vacclav/iStock via Getty Images
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    Food industry makes commitments at White House summit on hunger

    Several companies, from Chobani to Tyson, unveiled plans to improve health and nutrition, including reformulating products and revamping labels. 

    By • Updated Sept. 30, 2022
  • Ben & Jerry's Chubby Hubby ice cream
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    Courtesy of Ben & Jerry's
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    Ben & Jerry’s co-founders say Unilever violated merger agreement

    The ice cream brand's founders told MSNBC the sale of its Israel operations went against the section of the deal that gave an independent board control over social responsibility matters.

    By • Sept. 20, 2022
  • Plenty's vertical farm for Driscoll's strawberries
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    Courtesy of Plenty
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    Plenty to invest $300M in indoor vertical farm campus

    The 120-acre complex in Virginia will be capable of producing more than 20 million pounds of fruits and vegetables, with berry giant Driscoll’s among its first customers.

    By Samantha Oller • Sept. 14, 2022
  • Nestle, Perfect Day, milk
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    Courtesy of Nestle
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    Nestlé entering animal-free dairy with milk-like products

    The food and beverage giant is debuting chocolate and plain offerings made with protein from Perfect Day in the U.S. later this year as part of a test-and-learn.

    By • Sept. 12, 2022
  • Gotham Greens' greenhouse in Davis, California.
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    Courtesy of Gotham Greens
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    Gotham Greens raises $310M and makes first acquisition

    The new funding and purchase of Virginia-based FresH2O Growers brings the indoor farming company closer to delivering fresh produce to 90% of U.S. consumers within a day’s drive of its greenhouses.

    By Samantha Oller • Sept. 12, 2022
  • Overhead view of several sacks and bowls of various plant-based ingredients and legumes, some with scoops, grouped together on a wooden surface.
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    fcafotodigital via Getty Images
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    Blendtek partners with Bunge on plant protein ingredients

    The Canadian formulation company now offers the commodity giant’s soy, pea, faba, lentil and mung bean proteins — including concentrates, isolates, powders and textures.

    By • Sept. 8, 2022
  • Packages of several Wicked Kitchen and Good Catch products against a black background.
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    Permission granted by Wicked Kitchen
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    Good Catch acquired by Wicked Kitchen

    The all-stock deal brings the plant-based brands created by brothers Derek and Chad Sarno under one company, while the seafood alternative maker’s previous owner Gathered Foods will concentrate on the development space.

    By • Sept. 8, 2022
  • Chobani
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    Courtesy of Chobani
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    Chobani pulls planned IPO

    A spokesperson with the Greek yogurt maker cited “current market conditions” as the reason for the delay and said the company remains focused on “execution and driving profitable growth.”

    By • Sept. 2, 2022
  • A bowl of granola cereal is next to a lying-down carton of Neutral Foods' Organic 2% Milk on a blue background.
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    Courtesy of Neutral Foods
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    Neutral Foods gets $12M for zero-carbon dairy expansion

    The sustainable milk brand backed by Bill Gates, Mark Cuban and LeBron James plans to double the number of stores in which it is sold by the end of the year.

    By • Aug. 31, 2022
  • dot's, pretzels, Hershey
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    Retrieved from Dot's Homestyle Pretzels.
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    Deep Dive

    How CPGs are using M&A to boost manufacturing amid supply disruptions

    While dealmaking often focuses on food or beverage brands, more companies are buying plants to ramp up production, widen an offering’s reach and lessen dependence on outside manufacturers.

    By • Aug. 31, 2022
  • orange cheese powder with melting butter in a white bowl
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    bgwalker via Getty Images
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    Kraft Heinz to sell powdered cheese business to Kerry Group for $107.5M

    The deal includes a Minnesota manufacturing facility and its employees, and would bolster the Irish company’s ingredients portfolio.

    By • Updated Aug. 30, 2022
  • A plant-based Shrimpish curl, which is the same pinkish hue as actual shrimp, on a white background with logos for Shrimpish, Chicken of the Sea Frozen Foods, Thai Union, Ish and Certified B Corp.
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    Courtesy of The Ish Food Company
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    Thai Union partners with plant-based Ish Food Company

    Through its Chicken of the Sea Frozen Foods subsidiary, the seafood giant will work with the startup to increase manufacturing and distribution.

    By • Aug. 26, 2022
  • Three people hold cans of Celsius
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    Courtesy of Celsius
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    Q&A

    What PepsiCo’s $550M Celsius deal means for the energy drink brand

    Celsius CEO John Fieldly detailed how the investment and distribution agreement could impact the energy drink’s growth potential.

    By Chris Kelly • Aug. 25, 2022
  • Redesigned packages of SunOpta's Dream Rice Milk and West Life Soy Milk
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    Permission granted by SunOpta
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    How SunOpta achieved record sales and growth amid inflation

    There are two keys to the success of the plant-based beverage and organic fruit company, CEO Joe Ennen said: execution and a carefully curated portfolio.

    By • Aug. 23, 2022
  • Bang
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    Christopher Doering/Food Dive
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    Keurig Dr Pepper denies reported talks to buy Bang Energy drink owner

    In a statement, the beverage giant said it was “currently not pursuing an acquisition,” but added that M&A and brand/distribution partnerships will remain a key part of its growth strategy. 

    By • Updated Aug. 19, 2022
  • Kalsec, fermentation tanks
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    Permission granted by Kalsec
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    Kalsec partners with Infinome on precision fermentation products

    The companies said they will target ingredients that serve nutritional, functional, taste or preservation functions, with the first potentially reaching the market as early as 2024.

    By • Aug. 18, 2022
  • Animal-free mozzarella cheese from New Culture being grated.
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    Courtesy of New Culture Foods
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    ADM partners with New Culture to manufacture and develop animal-free cheese

    The food industry giant participated in the California startup’s most recent funding round, and has a similar agreement with precision fermentation dairy ingredient maker Perfect Day.

    By • Aug. 18, 2022
  • Laird Superfood
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    Courtesy of Laird Superfood
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    Plant-based food maker Laird Superfood gets $3 per share takeover offer

    The company said it will review the proposal from EF Hutton SPV I LLC and determine the course of action “that it believes is in the best interests” of its business and shareholders.

    By • Aug. 17, 2022