Finances and Deals: Page 29
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Courtesy of Meati Foods
Meati nets $150M investment for expansion as products hit store shelves
The funding will help the mycelium-based meat analog company complete its “Mega Ranch” facility, which will supply all Sprouts Farmers Market stores later this year. Chipotle’s venture fund was among the investors.
By Megan Poinski • July 21, 2022 -
Permission granted by Phytolon
Phytolon raises $14.5M, led by Royal DSM's venture arm
The fermented natural colors maker plans to expand its products globally, with the help of leaders in the biotech space.
By Chris Casey • July 14, 2022 -
Permission granted by Brevel
Why Brevel says its microalgae will become the most popular alternative protein ingredient
The inexpensive powder with a mild taste and high level of nutrition will eventually topple today’s standards of soy and pea in plant-based foods, the Israeli company’s CEO says.
By Megan Poinski • July 14, 2022 -
Courtesy of Base Culture
Flowers Foods invests in keto bread maker Base Culture
The bakery giant will help the gluten- and grain-free company increase distribution, scale and marketing, as well as bolster manufacturing capabilities.
By Megan Poinski • July 14, 2022 -
Permission granted by Tyson Foods
Tyson uses automation and employee programs to meet chicken demand
The poultry giant is working to improve efficiency as supply issues continue to mount.
By Chris Casey • July 12, 2022 -
Courtesy of Steeped Coffee
Sustainable coffee maker Steeped raises $5M through crowdfunding
The beverage upstart said the money will go toward bringing its compostable single-serve brewing process to more drinkers.
By Christopher Doering • July 7, 2022 -
Courtesy of The Vita Coco Company
Diageo partners with Vita Coco on canned cocktail beverage
The drink, which will include the popular coconut water and Captain Morgan rum, will be available in three flavors starting in early 2023.
By Christopher Doering • July 6, 2022 -
Jeff J Mitchell/Getty Images via Getty Images
Diageo buys flavor tech company to streamline drink exploration, path to purchase
The world’s second largest distiller is hoping to match consumers — especially young ones — with a whiskey, eliminating the costly experimentation process.
By Sara Karlovitch • July 5, 2022 -
Courtesy of Bolthouse Farms
Cost of Fourth of July cookouts to jump by double digits this year
Price increases for food items like chicken, bread and soda have made this year’s holiday a more expensive celebration, according to two recent analyses.
By Chris Casey • July 1, 2022 -
Permission granted by Sanderson Farms
Sanderson, Wayne Farms merger delayed
In a new SEC filing, Sanderson Farms said it still expects the deal to close but not in its expected timeframe of mid-2022.
By Chris Casey • June 29, 2022 -
Courtesy of Eclipse Foods
Eclipse Foods scoops up more than $40M to invest in plant-based dairy
The ice cream maker’s signature ingredient blend can enable an entire non-milk platform, and additional products will launch next year.
By Megan Poinski • June 28, 2022 -
Courtesy of Atomo Coffee
Atomo raises $40M for molecular coffee and launches RTD products
The beans-free startup will begin shipping cold brew and latte products that aim to deliver a similar taste as traditional options, but with improved sustainability.
By Samantha Oller • June 28, 2022 -
Courtesy of Sapporo USA
Sapporo USA to acquire Stone Brewing in deal valued at $165M
By acquiring the ninth largest craft brewer in the U.S., the Japanese beer giant is gaining production capacity and a launching ground for its own brand.
By Samantha Oller • June 24, 2022 -
Getty Images
Chinova Bioworks raises $6M for clean-label preservative
Investors in the company and its ingredient made from upcycled mushrooms include the venture arms of Royal DSM and Rich Products.
By Samantha Oller • June 23, 2022 -
Courtesy of Crush Dynamics
How CrushDynamics upcycles wine waste into a nutritious ingredient
The Canadian company uses fermentation to make polyphenol-rich blends that can enhance flavor, reduce salt, block bitterness and extend shelf life, and plans to take its tech to winemaking regions worldwide.
By Megan Poinski • June 23, 2022 -
Mark Wilson via Getty Images
How food tech companies can raise money in a slowing economy
Investors still want to put funds toward well-established players in the sector, and M&A, partnerships and joint ventures will continue to proliferate, said panelists at the Future Food-Tech Alternative Proteins conference this week.
By Megan Poinski • June 23, 2022 -
Justin Sullivan via Getty Images
Splitting Kellogg is the best way to drive growth, CEO says
In an interview, Steve Cahillane said dividing the 116-year-old CPG will unlock value and create three "healthy, strong companies” in plant-based food, cereal and snacks.
By Christopher Doering • June 22, 2022 -
Getty Images
Kellogg splitting into 3 companies
The CPG will spin off its North American cereal and plant-based foods operations while retaining its global snacking business. The separation is slated to be complete by the end of 2023.
By Megan Poinski , Christopher Doering • Updated June 21, 2022 -
Courtesy of Clif Bar
Mondelēz to buy Clif Bar for at least $2.9B
The purchase of the Clif, Luna and Clif Kid brands further expands the CPG giant’s reach in snacking while giving it a major presence in the high-growth bar business.
By Christopher Doering • Updated June 20, 2022 -
Courtesy of The Live Green Group
Live Green Group partners with Sigma to make clean-label ingredients
This agreement will utilize the startup’s Charaka algorithm and the Mexican food giant’s reach to create alternatives to things like methylcellulose, gums and emulsifiers.
By Megan Poinski • June 16, 2022 -
Courtesy of Nestlé
Nestlé sells Chameleon coffee to food and beverage operator
The divestiture to Systm Foods for an undisclosed amount comes five years after the food giant purchased the brand as part of a broader effort to grow its presence in the popular beverage category.
By Christopher Doering • June 16, 2022 -
Courtesy of Moolec Science
Moolec Science to go public through SPAC merger
The company, which uses bioengineered plants to produce animal proteins, is valued at $504 million in the deal.
By Megan Poinski • June 16, 2022 -
Catherine Douglas Moran/Food Dive
Magic Spoon raises $85M as better-for-you cereal launches at retail
The former DTC brand has built a large fan base of Gen Z and millennial consumers thanks to its low-sugar, high-protein offerings in fun flavors.
By Samantha Oller • June 14, 2022 -
Courtesy of Coca-Cola
Coca-Cola partners with Brown-Forman to launch Jack Daniel's RTD cocktail
The beverage, which marks the soda giant’s fourth alcoholic offering, will be sold around the world. The initial rollout is planned for Mexico in late 2022.
By Christopher Doering • June 13, 2022 -
Courtesy of Danone
Danone's venture arm invests in oat milk maker Minor Figures
The minority stake will allow the upstart to expedite its global footprint while enabling the CPG giant to deepen its presence in the fast-growing plant-based beverage subcategory.
By Christopher Doering • June 13, 2022
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