Finances and Deals: Page 30
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Retrieved from Foster Farms.
Chicken company Foster Farms purchased by private equity firm
Acquirer Atlas Holdings has named former Tyson CEO Donnie Smith to lead the poultry processor, which has $3 billion in annual revenue.
By Christopher Doering • June 8, 2022 -
Courtesy of J.M. Smucker
Jif recall may cost Smucker $125M
Salmonella contamination in products from the company’s largest peanut butter plant triggered a massive recall last month, which could subtract about 2% from total sales, the jam maker said.
By Megan Poinski • June 8, 2022 -
Permission granted by Eat the Change
Jilted by Coca-Cola, Honest co-founder plans new RTD tea launch
Just two weeks after the beverage giant announced it would discontinue the line in 2022, Seth Goldman said his yet-to-be named drink would have the same values and similar recipes.
By Christopher Doering • June 6, 2022 -
Courtesy of Royal DSM
DSM, Firmenich to merge into 'powerhouse of innovation and creativity'
The Dutch chemicals giant and Swiss ingredients maker will combine in a $21 billion deal to pursue natural, clean-label and sustainable products.
By Samantha Oller • June 2, 2022 -
Courtesy of Joywell Foods
Joywell Foods nets $25M from Kraft Heinz VC and others for sweet protein commercialization
The company, which uses fermentation to create substances found in super sweet African fruits, is working toward bringing a line of beverages to market.
By Megan Poinski • June 2, 2022 -
Christopher Doering/Food Dive
Beer drinkers clinging to higher-priced brews as inflation rages, Molson Coors CEO says
In an interview, Gavin Hattersley said price increases for the alcoholic beverage are trailing those hitting gas and other food categories, making it an affordable offering for many people.
By Christopher Doering • June 2, 2022 -
Permission granted by Unilever
Activist Nelson Peltz to join Unilever board
The investor, whose group owns a 1.5% stake in the European CPG giant, has a track record of pushing large food companies to split off less profitable divisions.
By Megan Poinski • May 31, 2022 -
Getty Images
General Mills to sell Helper, Suddenly Salad for $610M
Eagle Foods, known for its sweetened condensed milk, will buy the two brands. The transaction could help both companies expand in growing categories.
By Chris Casey • May 25, 2022 -
Permission granted by Evo Foods
Ginkgo Bioworks partners with Evo Foods on animal-free eggs
The U.S. biotech company will offer its scientific expertise in precision fermentation to help the Indian plant-based CPG create an ingredient to use in its products.
By Megan Poinski • May 19, 2022 -
Permission granted by Dippin' Dots
Dippin' Dots to be acquired by Icee owner J&J Snack Foods for $222M
The snack maker said the purchase will complement its existing frozen business and leverage its expertise to grow the ice cream brand and enter new markets.
By Christopher Doering • May 19, 2022 -
Courtesy of Motif FoodWorks
Motif FoodWorks launches plant-based meat products
The food tech company, which says it is debuting the offerings following strong demand for test products demonstrating its ingredients, also received an investment from Robert Downey Jr.'s venture capital fund.
By Megan Poinski • May 18, 2022 -
Courtesy of Eat Just
ADM partners with Eat Just on cell-based meat growth medium and product development
This is the ingredient powerhouse's first agreement in the cultivated meat space, and the company says it fits in with its strategic focus on alternative proteins.
By Megan Poinski • May 17, 2022 -
Permission granted by Brightseed
Brightseed raises $68M to accelerate artificial intelligence work
The creator of Forager AI, which maps the health impact of plant-based compounds, plans to use the funding to launch its first FDA-GRAS ingredient.
By Christopher Doering • May 12, 2022 -
Courtesy of Beyond Meat
Beyond Meat shares drop as jerky costs drive $100.5M loss
President and CEO Ethan Brown said the internal costs the company incurred will pay off in the long run, but analysts seem to be skeptical of the strategy.
By Megan Poinski • May 12, 2022 -
Getty Images
General Mills to buy frozen pizza crust maker to boost away-from-home business
The purchase of TNT Crust for an undisclosed amount will add to the fold a fast-growing company while increasing the CPG's exposure to the popular meal offering.
By Christopher Doering • May 11, 2022 -
Dan Kitwood via Getty Images
Tate & Lyle buys chickpea ingredients company Nutriati
The acquisition comes six months after the ingredients giant agreed to distribute the upstart's offerings used in non-dairy, plant-based meat and gluten-free products.
By Christopher Doering • May 5, 2022 -
Permission granted by Whole Earth Brands
Whole Earth Brands carves out its sweet spot in alternative sweeteners
The company's portfolio of products like Wholesome and Equal are designed to give consumers more choice and position it to grab a bigger slice of the $100 billion market dominated by sugar.
By Christopher Doering • May 5, 2022 -
Courtesy of Voyage Foods
Voyage Foods gets $36M investment to scale up
The California company that recreates chocolate, peanut butter and coffee on a molecular level is planning product launches later this year.
By Megan Poinski • May 5, 2022 -
Permission granted by Sanderson Farms
What the stalled Sanderson and Wayne Farms merger says about its potential for closing
As regulators in the Biden administration scrutinize the pending $4.53 billion acquisition, experts point to obstacles that could complicate its approval.
By Chris Casey • May 4, 2022 -
Permission granted by Sonoma Brands
Deep DiveLost and found: Brands neglected by large CPGs thrive under new ownership
Krave jerky, Funfetti baking products and Häagen-Dazs are just a few of the lines that have flourished after being divested, with their new owners spending more on marketing, innovation and improving product quality.
By Christopher Doering • May 3, 2022 -
Courtesy of SimpliiGood
IFF and SimpliiGood collaborate to make spirulina-based smoked salmon
The ingredients powerhouse will provide flavor and aroma attributes to a product that the Israel-based startup plans to make completely out of microalgae.
By Megan Poinski • April 28, 2022 -
Courtesy of Lemon Perfect
Beyoncé participates in Lemon Perfect's $31M funding round
The superstar behind "Lemonade" headlines the clean-label, enhanced hydration brand's Series A round, which it will use to more than double its distribution.
By Megan Poinski • April 28, 2022 -
Courtesy of PIPA
Mars partners with AI provider to accelerate functional food development
The multi-year agreement with PIPA will bring an algorithm searching biomedical data, scientific publications and clinical trials to the company's human and pet divisions.
By Megan Poinski • April 27, 2022 -
Permission granted by Upside Foods
Upside Foods gets $400M investment for commercial-scale facility
The largest single funding round in the cultivated meat space to date included money from Tyson, Cargill and Givaudan, and will help the company bring cell-based animal products to market.
By Megan Poinski • April 21, 2022 -
Courtesy of Impossible Foods
How Temasek became a leading food tech investor
The Singapore-based firm realized eight years ago the sector held the keys to sustainability and longevity. After $8 billion in investments, its agri-food division head is more bullish than ever on its potential.
By Megan Poinski • April 20, 2022
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