Finances and Deals: Page 28

  • 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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    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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    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
  • Sovos Brands, Noosa, yogurt, birch benders, michael angelo's, rao's
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    Permission granted by Sovos Brands
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    As inflation rages, Sovos Brands thrives with a premium portfolio

    Despite the surge in demand for private label products, the company’s Michael Angelo’s frozen meals and Rao’s sauces are attracting consumers who want to indulge more at home, CEO Todd Lachman said.

    By • Aug. 16, 2022
  • seth goldman, honest tea, eat the change
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    Permission granted by Eat the Change
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    Seth Goldman’s Eat the Change raises $14.5M to help launch Just Ice Tea

    The funding will be used to set up and scale production, with a national brand rollout in some major retailers slated for October. 

    By • Aug. 15, 2022
  • Clif Bar cereal
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    Courtesy of Clif Bar
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    Food and beverage M&A dips in Q2, study finds

    Despite 84 deals compared to 99 in the same period last year, large cash stockpiles will keep the space “an attractive and intrinsically defensive sector for investments,” according to research and data provider Kroll. 

    By • Aug. 12, 2022
  • pasta, treehouse
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    Retrieved from TreeHouse Foods.
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    TreeHouse to sell large part of meal prep business for $950M

    The sale to Investindustrial, which comes amid strong demand for store-branded offerings, will simplify the private label maker’s business and allow it to focus on higher-growth and -margin foods.

    By • Aug. 11, 2022
  • Danone, yogurt, oikos
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    Permission granted by Danone
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    The secret behind Danone’s ‘very recession resilient’ portfolio

    North American CEO Shane Grant said the company will benefit as consumers prioritize essential foods like its creamers, yogurts and plant-based milks.

    By • Aug. 10, 2022
  • Haus, alcohol
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    Courtesy of Haus
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    Aperitif maker Haus to shutter as Constellation reportedly backs out on funding round

    In a tweet, the upstart’s CEO said the three-year-old company is in the process of closing, and without an investor, doesn’t have the cash to support its operations.

    By • Aug. 10, 2022
  • Constellation Brands, Archer Roose
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    Retrieved from Archer Roose.
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    Constellation Brands buys minority stake in canned wine Archer Roose

    The investment comes four months after the alcohol giant bought the remaining stake it didn’t already own in Austin Cocktails. 

    By • Aug. 9, 2022
  • A large package of Beyond Meat burgers sits in a shopping cart.
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    Courtesy of Beyond Meat
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    Beyond Meat cuts outlook and employees as sales and earnings disappoint

    As higher prices and inflation lead consumers to trade down at the grocery store, CEO Ethan Brown said the company is focusing on reducing its operational expenses.

    By • Aug. 5, 2022
  • McCormick, Kitchen Basics, broths
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    Retrieved from McCormick & Co..
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    Del Monte buys broth and stocks brand Kitchen Basics from McCormick

    The purchase for an undisclosed amount will strengthen the company’s branded portfolio while complementing College Inn, its existing product in the category.

    By • Updated Aug. 4, 2022
  • Sanderson Farms, chicken
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    Permission granted by Sanderson Farms
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    Cargill and Continental Grain close $4.5B purchase of Sanderson Farms

    The transaction, which was announced last August and creates the third-largest U.S. poultry processor, was delayed by a Justice Department review.

    By , • Updated July 22, 2022
  • Truly margarita hard seltzer
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    Courtesy of Truly Hard Seltzer
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    Boston Beer stung by declining hard seltzer demand

    The Truly maker is under pressure as the once popular alcohol category has fallen out of favor with more consumers turning to ready-to-drink cocktails and other offerings.

    By • July 22, 2022