Finances and Deals: Page 29
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Courtesy of B&G Foods
B&G Foods ‘actively seeking’ to sell Back to Nature brand
The owner of Ortega and Cream of Wheat said it is also looking at other divestitures that could help it pay down debt, reduce leverage and better position its portfolio for growth.
By Christopher Doering • Nov. 11, 2022 -
Courtesy of Beyond Meat
As revenue slides, Beyond Meat CEO outlines strategy to improve business
CEO Ethan Brown said today’s economy has not been kind to plant-based meat. He’s aiming to return the company to cash-flow-positive operations in the second half of 2023.
By Megan Poinski • Nov. 10, 2022 -
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 Steakholder Foods
From science to CPG series
A five-part series examining the challenges food tech companies face when scaling up.
By Megan Poinski • Nov. 9, 2022 -
Retrieved from Athletic Brewing Company.
Keurig Dr Pepper invests $50M in Athletic Brewing
The minority stake deepens the soda and coffee giant’s presence in the nonalcoholic category following its acquisition of ready-to-drink cocktail brand Atypique in June.
By Christopher Doering • Nov. 9, 2022 -
Courtesy of Future Meat Technologies
Deep DiveFrom science to CPG: How money makes the food tech startup world go round
Fundraising and understanding a realistic timeline are high barriers for these companies as they face R&D and regulatory challenges.
By Megan Poinski • Nov. 8, 2022 -
Permission granted by Finless Foods
Deep DiveFrom science to CPG: How food tech companies grow into tomorrow’s food manufacturers
It’s difficult to take a scientific discovery that could change the way the world eats and get it to consumers’ plates. Startups need tenacity, money, R&D, patience and an understanding of reality.
By Megan Poinski • Nov. 7, 2022 -
Permission granted by BioVeritas
BioVeritas gets $65M for fermented upcycled ingredients
The company, which turns broken pasta and other food waste into ingredients commonly sourced from petrochemicals, plans to open a commercial-scale plant in 2025.
By Megan Poinski • Oct. 27, 2022 -
Getty Images
Constellation transitions to passive role at Canopy Growth
As part of a deal, the alcohol giant would keep its existing 35.7% stake, but no longer be allowed to nominate representatives to the board or approve certain transactions.
By Christopher Doering • Oct. 25, 2022 -
Permission granted by Kodiak Cakes
Q&AHow one private equity firm is adapting its strategy in today’s volatile environment
While Peter Burns, managing partner at Sunrise Strategic Partners, said there is plenty of money still looking for a home in food, investors are more cautious and prioritizing profitable, established brands.
By Christopher Doering • Oct. 24, 2022 -
Permission granted by SunOpta
OpinionHow 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 -
Courtesy of Nestlé
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 Christopher Doering • Oct. 19, 2022 -
Courtesy of Beyond Meat
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 Megan Poinski • Oct. 14, 2022 -
Courtesy of Soli Organic
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 Megan Poinski • Oct. 12, 2022 -
Thai Phi Le/Food Dive
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 Christopher Doering • Oct. 11, 2022 -
Permission granted by Brown-Forman
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 Christopher Doering • Oct. 7, 2022 -
Courtesy of Liquid Death
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 Chris Casey • Oct. 4, 2022 -
Getty Images
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 Megan Poinski • Updated Sept. 30, 2022 -
Courtesy of Ben & Jerry's
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 Chris Casey • Sept. 20, 2022 -
Courtesy of Plenty
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 -
Courtesy of Nestle
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 Christopher Doering • Sept. 12, 2022 -
Courtesy of Gotham Greens
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 -
Getty Images
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 Megan Poinski • Sept. 8, 2022 -
Permission granted by Wicked Kitchen
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 Megan Poinski • Sept. 8, 2022 -
Courtesy of Chobani
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 Christopher Doering • Sept. 2, 2022 -
Courtesy of Neutral Foods
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 Megan Poinski • Aug. 31, 2022
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