Finances and Deals: Page 31
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Courtesy of New Culture Foods
New Culture raises $25M to launch animal-free cheese in 2022
The funding round — which includes venture arms of Kraft Heinz, ADM and Dr. Oetker — will help the company scale and grow as it plans to commercialize its cow-free mozzarella.
By Megan Poinski • Nov. 23, 2021 -
Courtesy of Impossible Foods
Impossible Foods raises $500M, bringing its lifetime funding to more than $2B
The company, which says it is the fastest growing in plant-based meat, plans to use the money to accelerate its expansion in the U.S. and abroad.
By Megan Poinski • Nov. 23, 2021 -
Trendline
Mergers and acquisitions
Declining sales and slowing consumption have more companies divesting brands, opening the door for smaller players and private equity firms to expand their portfolios.
By Food Dive staff -
Monster Beverage exploring deal with Constellation Brands, Bloomberg reports
The exact type of transaction between the energy drink maker and the Corona brewer, whether it involves a merger or a specific asset, is uncertain, the news service said.
By Christopher Doering • Nov. 22, 2021 -
Courtesy of Greenleaf Foods
What's behind the slowdown in plant-based meat sales?
With major companies posting lower-than-expected revenues, the once-hot sector is looking less appealing to investors. Three analysts give their take on what happened and the segment's future.
By Megan Poinski • Nov. 22, 2021 -
Matthew Stockman via Getty Images
JBS enters cell-based meat with BioTech Foods acquisition and $100M investment
The world's largest meat company is the first to make an acquisition in the growing space, and plans to build a production facility in Spain and a cultivated meat R&D center in its home country of Brazil.
By Megan Poinski • Nov. 18, 2021 -
Courtesy of Local Bounti
Local Bounti aims to prove it's worth the investment despite indoor farming's spotty track record
With the pending close of its SPAC deal, the firm believes it can execute and turn a profit thanks to a focus on unit economics and local distribution in the Western U.S.
By Samantha Oller • Nov. 18, 2021 -
Courtesy of Chobani
Chobani reveals surging sales as it moves closer to IPO
The Greek yogurt maker, which plans to list on the Nasdaq under the symbol "CHO," posted revenue of $1.4 billion in 2020 with losses of $58.7 million, according to an SEC filing.
By Christopher Doering • Nov. 17, 2021 -
Permission granted by Sanderson Farms
Sanderson and Wayne Farms merger 'an opportunity that doesn't come along very often,' CEO says
Clint Rivers said the new company — which would be the third-largest U.S. poultry processor after the deal closes — will benefit from expansion into new categories and growing demand for chicken.
By Christopher Doering • Nov. 17, 2021 -
Courtesy of Hoop Tea
Anheuser-Busch buys alcoholic beverage brand Hoop Tea
The Maryland-based company, known for its infused malt drinks and seltzers, will join the beverage giant's Beyond Beer portfolio.
By Christopher Doering • Nov. 16, 2021 -
Courtesy of Mosa Meat
How Blue Horizon uses food tech investments to further sustainability
The firm puts funds toward alternative protein companies worldwide, focusing on their potential to improve the environment, human health and animal welfare.
By Megan Poinski • Nov. 15, 2021 -
Courtesy of Sol Cuisine
Marfrig, ADM plant-based venture expands with 2 North American acquisitions
PlantPlus Foods, formed in 2020 to create products for North and South American markets, is buying the maker of Hilary's veggie burgers and private-label manufacturer Sol Cuisine for about $100 million.
By Samantha Oller • Nov. 15, 2021 -
Retrieved from General Mills.
General Mills considering sale of Progresso, Hamburger Helper for $3B, Bloomberg reports
The CPG giant is working with Goldman Sachs on a potential sale, which also could include some smaller brands in its portfolio.
By Christopher Doering • Nov. 11, 2021 -
Courtesy of Beyond Meat
Beyond Meat shares tumble after company reports lower-than-expected revenues
Several factors contributed to the plant-based meat leader missing its targets, CEO Ethan Brown said, but he is optimistic about the company's future.
By Megan Poinski • Nov. 11, 2021 -
Retrieved from Dot's Homestyle Pretzels.
Hershey buys Dot's Homestyle Pretzels and its co-manufacturer for $1.2B
CEO Michele Buck calls the company's second-largest deal a "growth play" as the CPG giant expands its portfolio beyond confections into salty snacks popular with consumers.
By Christopher Doering • Nov. 10, 2021 -
Courtesy of The Real Good Food Company
Real Good Food exec says IPO will accelerate its possibilities
With the Nasdaq debut of the better-for-you frozen comfort food company, Executive Chairman Bryan Freeman is bullish on its next-generation approach to brand equity and growth potential.
By Megan Poinski • Nov. 8, 2021 -
Retrieved from TreeHouse Foods on July 01, 2016
TreeHouse Foods nixes sale but continuing to explore divestitures
The food maker said it is optimistic over the prospects for private label and that a sale of part of its meal preparations division would make its business less complicated.
By Christopher Doering • Updated March 14, 2022 -
Permission granted by Greenleaf Foods
Maple Leaf plans review of plant-based division after sales declines
The Canadian meat giant will be looking at why consumers are less interested in purchasing its Lightlife, Field Roast and Chao brands, but did not say if it would consider selling them off.
By Megan Poinski • Nov. 5, 2021 -
Courtesy of Upside Foods
Tracking the cell-based meat space
Higher Steaks rebrands as Uncommon and raises $30 million, and JBS subsidiary BioTech Foods begins building its commercial-scale plant in Spain.
By Megan Poinski • Updated June 12, 2023 -
Courtesy of Future Farm
Future Farm lands $58M investment round
The Brazilian company, which brought its plant-based Future Burgers to the U.S. this summer, plans to launch more of its meat analogs here, as well as expand into dairy alternatives.
By Megan Poinski • Nov. 4, 2021 -
Courtesy of TurtleTree
TurtleTree closes $30M funding round
After a year of partnerships and opening a new California R&D center, the company using cell-culturing technology to create human and cow milk has money to invest in product development.
By Megan Poinski • Nov. 2, 2021 -
Permission granted by Vita Coco
Once-hot food and beverage IPOs lose their sizzle as investor enthusiasm fades
A review of 13 companies that have gone public since July 2020 through traditional IPOs or mergers with SPACs show all but one of the listings are trading below where they first came to market.
By Christopher Doering • Nov. 2, 2021 -
Retrieved from BodyArmor.
Coca-Cola buys rest of BodyArmor for $5.6B in company's largest-ever purchase
The beverage giant first acquired a 15% stake in 2018. The brand has since grown to become the second-best selling sports drink with $1.4B in sales, behind PepsiCo's Gatorade.
By Christopher Doering • Nov. 1, 2021 -
Retrieved from NexPhase Capital on November 01, 2021
Grupo Bimbo's Barcel USA expands into ready-to-eat popcorn with latest acquisition
The salty snack maker known for Takis bought a popcorn brand that touts a wide range of indulgent flavors, as well as better-for-you options.
By Jessi Devenyns • Nov. 1, 2021 -
Courtesy of Nick's
Nick's closes $100M funding round
The Swedish company known for its better-for-you ice cream and snack bars plans to accelerate its U.S. expansion and invest in more R&D.
By Megan Poinski • Oct. 28, 2021 -
Courtesy of Daring Foods
Daring Foods raises $65M and launches at Walmart
The plant-based chicken maker has raised more than $120 million over the past year as it prepares for further retail expansion and new products.
By Samantha Oller • Oct. 28, 2021
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