Finances and Deals: Page 26
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Retrieved from Eastern Standard Provisions.
Mondelēz participates in $13.5M funding round for soft pretzel maker
With the investment in Eastern Standard Provisions, Tapan Shah, head of venture capital for the CPG giant’s SnackFutures arm, became a director at the company.
By Christopher Doering • Jan. 5, 2023 -
Catherine Douglas Moran/Food Dive
Oatly sells some manufacturing capacity to co-packer Ya YA Foods for $98.1M
After a year plagued with production problems, the publicly traded company will focus on its proprietary oat base, while the Canadian co-manufacturer will take over its Utah and Texas plants.
By Megan Poinski • Jan. 4, 2023 -
Courtesy of Moolec Science
Moolec Science begins trading on Nasdaq
The company is the first to use a process it calls molecular farming — using bioengineered plants to produce animal proteins — to go public.
By Megan Poinski • Jan. 3, 2023 -
Courtesy of Clif Bar
2022’s top M&A deals in the food and beverage industry
Last year saw companies turn to dealmaking as a way to quickly gain presence in fast-growing categories or strengthen their position in existing ones.
By Christopher Doering • Jan. 3, 2023 -
Courtesy of International Flavors & Fragrances
IFF sells Savory Solutions Group for $900M
The sale to private equity firm PAI Partners is the first of three divestments CEO Frank Clyburn said were coming soon at the company’s investor day earlier this month.
By Megan Poinski • Dec. 22, 2022 -
Retrieved from Just the Cheese.
John B. Sanfilippo buys baked cheese brand to expand snacking portfolio
The purchase of Just the Cheese for an undisclosed amount brings the nut and dried fruit products maker into new categories and complements its existing portfolio.
By Christopher Doering • Dec. 21, 2022 -
Courtesy of The Better Meat Co.
Maple Leaf Foods partners with The Better Meat Co. to develop mycelium products
The agreement, which is the first in alternative protein since the Canadian meat giant cut back on its plant-based division, is focused on R&D and innovation with Rhiza protein.
By Megan Poinski • Dec. 21, 2022 -
Courtesy of Tru Fru
Mars acquires better-for-you snack maker Trü Frü
Terms of the deal were not disclosed, but the purchase of the chocolate-covered fruit treat brand will add to a powerful division of healthier options for the global food giant.
By Megan Poinski • Dec. 20, 2022 -
Retrieved from Mondelez.
Mondelēz International to sell gum business for $1.35B
The sale to Perfetti Van Melle Group, a European gum and confectionery maker, includes two manufacturing facilities and brands such as Trident and Dentyne in the U.S., Canada and Europe.
By Christopher Doering • Dec. 19, 2022 -
Courtesy of B&G Foods
B&G Foods to sell Back to Nature brand to Barilla America
CEO Casey Keller said the sale is part of the company’s portfolio focusing effort, and can help reduce long-term debt. Terms of the deal were not disclosed.
By Christopher Doering • Dec. 16, 2022 -
Courtesy of Novozymes
Chr. Hansen will merge with Novozymes in a $12.3B deal
The sale, which is expected to close in the fourth quarter of 2023 at the earliest, would create a company with extensive expertise in enzymes and natural microbials.
By Megan Poinski • Dec. 15, 2022 -
Courtesy of Papa Pita Bakery
Flowers Foods buys Papa Pita Bakery for undisclosed amount
With the purchase of the Utah company, the baking giant adds several regional brands to its portfolio, as well as a state-of-the-art manufacturing facility and distribution network.
By Megan Poinski • Dec. 14, 2022 -
Courtesy of Poppi
Functional soda Poppi raises $25M
The beverage maker also bulked up its C-suite by appointing former Anheuser-Busch executive Lana Buchanan as its chief marketing officer.
By Christopher Doering • Dec. 13, 2022 -
Courtesy of NotCo
NotCo raises $70M to make its AI available to other companies
The Chile-based company will build on its recent joint venture with Kraft Heinz to bring the power of its Giuseppe algorithm to an array of manufacturers.
By Megan Poinski • Dec. 12, 2022 -
Courtesy of Equinom
Equinom raises $35M for new non-GMO plant protein ingredients
The Israel-based company is nearly doubling its lifetime funding with this round and will use the money to get its precision-bred pea, soy and sesame ingredients to the market faster.
By Megan Poinski • Dec. 12, 2022 -
Courtesy of International Flavors & Fragrances
IFF plans job cuts as part of company restructuring
The ingredients giant plans to save $100 million annually through headcount reduction, which is a part of a plan to become more streamlined, efficient and customer-centric.
By Megan Poinski • Dec. 8, 2022 -
Courtesy of C4
Keurig Dr Pepper spends $863M for stake in C4 Energy maker
The beverage giant will own 30% of Nutrabolt with opportunities to increase its ownership. The companies also entered into a long-term sales and distribution agreement.
By Christopher Doering • Dec. 8, 2022 -
Courtesy of Wells Enterprises
Ferrero to buy ice cream maker Wells Enterprises
The price and terms of the deal, which will give the Italy-based confectioner a large foothold in the frozen treats business, were not disclosed.
By Megan Poinski • Dec. 7, 2022 -
Courtesy of Cibus Fund
Precision pollination startup BeeHero nets $42M with backing from General Mills
The startup said its technology allows beekeepers to better monitor their hives, which could help improve crop yields and reduce food insecurity.
By Chris Casey • Dec. 7, 2022 -
Catherine Douglas Moran/Food Dive
A taste of Food Dive’s best stories
From the struggles of plant-based meat to Kellogg’s proposed split, Food Dive writes about the news that moves the CPG industry.
By Food Dive Staff • Dec. 2, 2022 -
Courtesy of Huel
Huel closes $24M investment round
Actor Idris Elba is among the backers for the British meal replacement company, which is now valued at $560 million.
By Megan Poinski • Dec. 1, 2022 -
Courtesy of Protera Biosciences
ICL Food Specialties and Protera Biosciences partner on AI-discovered plant-based ingredients
The collaboration, with the goal of quickly scaling up clean-label options, follows a $1 million investment from the global minerals giant last year.
By Megan Poinski • Dec. 1, 2022 -
Courtesy of Perfect Day
Perfect Day expands its reach with gelatin company purchase
With the acquisition of India’s Sterling Biotech Limited, the animal-free dairy company doubles its manufacturing capacity and has a path to widen its precision fermentation portfolio.
By Megan Poinski • Nov. 30, 2022 -
Permission granted by Dippin' Dots
Dippin’ Dots could come to retail, new owner says
The ice cream, which J&J Snack Foods recently purchased for $222 million, has a large presence in outlets including movie theaters, stadiums and amusement parks, but not grocery stores.
By Christopher Doering • Nov. 29, 2022 -
Courtesy of Freshly
Nestlé scales back meal delivery presence through Freshly deal
The CPG giant and private equity firm L Catterton are creating an entity bringing together the business it bought two years ago and Kettle Cuisine. Nestlé will retain a 41% stake in the partnership.
By Christopher Doering • Nov. 28, 2022
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