Finances and Deals: Page 32
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Permission granted by Shiru
How Shiru will use its $17M funding round to transform ingredients through science
The California company uses advanced biotechnology, chemical engineering and fermentation to replicate the functional proteins in animal-based food using the plant kingdom.
By Megan Poinski • Oct. 27, 2021 -
Courtesy of Hershey
Hershey enters premium milk with a2 partnership
The chocolate beverage, which is scheduled to hit retailers' shelves in January, is the confectionery giant's first collaboration with a premium milk company.
By Christopher Doering • Oct. 27, 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 -
Courtesy of Tattooed Chef
Tattooed Chef buys private-label bar maker for $18M
The frozen plant-based meals company will gain access to a 47,000-square-foot manufacturing facility where it can bring a new category of products to market.
By Jessi Devenyns • Oct. 27, 2021 -
Courtesy of Atlantic Natural Foods
Above Food to buy Atlantic Natural Foods for more than $30M
The vertically integrated Canadian plant-based company's acquisition of the maker of Tuno and Loma Linda can help lead it to new customers, especially in the United States.
By Megan Poinski • Oct. 26, 2021 -
Permission granted by Vita Coco
From its birth in a bar to an IPO, Vita Coco sets its sights next on dominating healthy beverages
Co-CEO Mike Kirban said his company, which grew sales 9% in 2020, is looking toward innovation and M&A to expand its portfolio of better-for-you, functional and plant-based drinks.
By Christopher Doering • Oct. 26, 2021 -
Scott Barbour via Getty Images
Deep DiveWhy the food and beverage industry is building toward the future in 2021
Pandemic-related increases in consumption and a revitalization of CPGs are leading to more big facility construction projects, but challenges in staffing and supply chain may cloud the industry's growth.
By Megan Poinski • Oct. 25, 2021 -
Courtesy of Mission Barns
Mission Barns partnership produces plant-based sausage with cultivated fat
To announce the agreement with Silva Sausage, the companies made Mission Chorizo Sausage in a scaled production run. There is no target date for a launch yet.
By Megan Poinski • Oct. 21, 2021 -
Courtesy of Atlast Food Co
Swift to acquire Sunnyvalley Smoked Meats for $90M
With the acquisition of the smoked meats specialist, the JBS subsidiary is expanding its geographic footprint at a time when demand for bacon is growing.
By Chris Casey • Oct. 18, 2021 -
Courtesy of AeroFarms
AeroFarms calls off SPAC deal after funding dries up
The vertical farming company was set to go public after its merger with Spring Valley Acquisition Corp. in a deal that would have valued the new entity at $1.2 billion, but investors appeared to second-guess its potential.
By Samantha Oller • Oct. 15, 2021 -
Courtesy of Givaudan
Givaudan bulks up natural colors business with purchase of DDW
The acquisition marks the latest in a series of deals for the Switzerland-based company as it responds to growing demand for better-for-you offerings.
By Jessi Devenyns • Oct. 14, 2021 -
Retrieved from Vita Coco on September 02, 2020
Keurig Dr Pepper affiliated entity to buy $20M in Vita Coco stock as part of IPO
The soda, water, tea and coffee giant is Vita Coco’s largest distributor customer, accounting for 19% of its total net sales in 2020.
By Christopher Doering • Oct. 13, 2021 -
Permission granted by Better Meat Co
Hormel partners with The Better Meat Co. to develop meat analog products
The agreement is the first between a legacy food company and a startup that makes substitutes by fermentation.
By Megan Poinski • Oct. 6, 2021 -
Fiona Goodall via Getty Images
Speeding up serendipity: How Kingdom Supercultures will use $25M to create better foods through fermentation
The company is transforming microorganisms into cultures that can change the taste of food, lower the alcohol content of beverages and boost the appeal of plant-based protein.
By Megan Poinski • Oct. 5, 2021 -
Courtesy of Ardent Mills
Ardent Mills to buy gluten-free Firebird Artisan Mills
The purchase price was not disclosed for the North Dakota business, which provides more than 40 flour products from pulses, ancient grains and starches.
By Megan Poinski • Sept. 30, 2021 -
Courtesy of The Urgent Company
Perfect Day raises $350M and announces animal-free cream cheese
The proceeds from the round, tied for the largest single fundraising in the alternative protein space this year, will go toward science, innovation, product development and helping other startups scale.
By Megan Poinski • Sept. 30, 2021 -
Permission granted by Sovos Brands
Sovos Brands' CEO finds success in embracing 'one-of-a-kind' disruptive products
The owner of offerings such as Rao's and Noosa, which went public last week, has rapidly grown by touting high quality, clean-label ingredients.
By Christopher Doering • Sept. 29, 2021 -
Courtesy of ShineWater
Anheuser-Busch to distribute vitamin D-loaded ShineWater
The beer giant will use its own network to expand the functional drink's availability as consumers latch onto products that do more than provide sustenance or refreshment.
By Christopher Doering • Sept. 27, 2021 -
Courtesy of HumanCo
HumanCo gets $35M and buys gluten-free pizza maker Against the Grain
The better-for-you holding company's latest funding round is full of notable investors ranging from Indra Nooyi to Cindy Crawford.
By Megan Poinski • Sept. 22, 2021 -
Retrieved from Kraft Heinz.
Justice Department requires Polly-O and Athenos divestitures after Kraft Heinz-Lactalis deal
Both sales were in process, but the federal government filed a lawsuit ordering them to happen, saying action is necessary to avoid monopolies.
By Christopher Doering • Updated Nov. 11, 2021 -
Courtesy of Banza
Banza partners with Beyond Meat, Follow Your Heart on pizzas
The fast-growing maker of foods from chickpeas moved into pizza last fall after previously adding rice to complement its line of pasta.
By Jessi Devenyns • Sept. 21, 2021 -
DSM acquires dairy flavoring maker First Choice Ingredients for $453M
The manufacturer uses fermentation and enzymatic modification to create hundreds of clean-label ingredients for both traditional and plant-based applications.
By Jessi Devenyns • Sept. 9, 2021 -
Alex Wong via Getty Images
Kraft Heinz paying $62M to settle SEC investigation over its accounting
The agency said the CPG giant engaged "in a long-running expense management scheme" that resulted in the restatement of several years of financial reporting. The company did not admit to or deny the findings.
By Christopher Doering , Megan Poinski • Updated Sept. 3, 2021 -
Courtesy of Parabel
Kellogg's VC arm doubles down on duckweed in $21.5M funding round
For the second time in a little over a year, Eighteen94 Capital has invested in Plantible, a startup that is developing a protein from the aquatic plant said to be indistinguishable from animal protein.
By Jessi Devenyns • Sept. 2, 2021
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