Finances and Deals: Page 32
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Courtesy of Future Meat Technologies
Food tech saw $39.3B in VC investments last year, says PitchBook
Companies making alternative protein products and ingredients received $6 billion — a 93.4% increase over 2020, the report found.
By Megan Poinski • Feb. 17, 2022 -
Permission granted by Change Foods
Change Foods raises $12M and partners with Upfield and Sigma
The animal-free dairy company will collaborate with the plant-based butter giant and the global cheese maker to develop products, scale production and increase distribution.
By Megan Poinski • Feb. 15, 2022 -
Courtesy of Next Gen Foods
Next Gen Foods raises $100M and expands to US
The Singapore company's much-hyped Tindle plant-based chicken is now available at 12 restaurants and major foodservice distributors, and the funds will go toward more expansion and R&D.
By Megan Poinski • Feb. 15, 2022 -
Permission granted by Dreyer's Grand Ice Cream
After divestiture by Nestlé, sales heating up at Dreyer's Grand Ice Cream
The company, which posted its fastest growth rate in years in 2021, is investing half a billion dollars to boost manufacturing, marketing and innovation for brands like Häagen-Dazs and Drumstick.
By Christopher Doering • Feb. 14, 2022 -
Courtesy of Endless West
Molecular spirit maker Endless West raises $60M for tech scale-up
The funding will go toward expanding the company's Blank Collective B2B manufacturing platform in the U.S. and overseas, while increasing production up to 20-fold.
By Samantha Oller • Feb. 11, 2022 -
Courtesy of International Flavors & Fragrances
IFF adds Icahn-recommended member to board
Church & Dwight Chief Marketing Officer Barry Bruno will be one of eight new board members of the ingredients giant, which will also get a new CEO next week.
By Megan Poinski • Feb. 10, 2022 -
Getty Images
Cell-based chocolate maker California Cultured gets strategic investment from Cult Food Science
The West Coast company grows cocoa from cells in bioreactors, bypassing the human rights and environmental problems associated with the ingredient's production.
By Megan Poinski • Feb. 10, 2022 -
Christopher Doering/Food Dive
Beer industry scrutinized by Treasury Department following wave of consolidation
In a new report, the department said the DOJ and FTC should examine the way they review mergers in the sector while paying "particular skepticism to claims of efficiencies" in assessing future deals.
By Christopher Doering • Feb. 10, 2022 -
Permission granted by Everything Legendary
Plant-based burger Everything Legendary raises $6M with backing from General Mills
Entrepreneur Russell Simmons also became a senior advisor to the Maryland-based brand, which was jumpstarted with a 2021 appearance on "Shark Tank."
By Megan Poinski • Feb. 8, 2022 -
Permission granted by Hormel Foods
Hormel Foods' snack brands thrive behind 'transformative' $3.35B Planters buy
The acquisition, the largest in the company's 131-year history, immediately became its biggest brand and opened up shelf space for other offerings in its portfolio.
By Christopher Doering • Feb. 7, 2022 -
Courtesy of Susan Wilkinson, via Zero Acre Farms
Zero Acre Farms raises $37M for its mission to make oil healthier
The startup uses fermentation to create fats that are better for human health and the environment, and plans to launch its first product later this year.
By Megan Poinski • Feb. 3, 2022 -
Courtesy of Orgain
Nestlé to buy majority stake in protein powder maker Orgain
The deal accelerates the CPG giant's push to grow its health and wellness business while selling parts of its slower-growing food and beverage division.
By Christopher Doering • Feb. 3, 2022 -
Courtesy of Kalera AS
Kalera starts trading on Nasdaq
The indoor farming company debuted at $14 a share after its shareholders approved its merger with Agrico Acquisition Corp. at a special meeting on Tuesday.
By Samantha Oller • Updated June 29, 2022 -
Courtesy of Olipop
Functional soda Olipop raises $30M with notable investors, including former PepsiCo CEO
The three-year-old company, which plans to use the money to develop new products and hire employees, said the celebrity-packed funding round values it at $200 million.
By Christopher Doering • Feb. 1, 2022 -
Courtesy of Purely Elizabeth
Purely Elizabeth raises $50M for expansion
The funding round boosts the money the clean-label breakfast brand has raised more than 16-fold.
By Megan Poinski • Jan. 31, 2022 -
Courtesy of Redefine Meat
Redefine Meat raises $135M for global expansion
The Israeli company makes 3D printed plant-based meat currently served in more than 200 high-end restaurants in its home country, as well as the U.K., Germany and the Netherlands.
By Megan Poinski • Jan. 27, 2022 -
Courtesy of Walmart
Vertical farming company Plenty raises $400M, partners with Walmart to supply greens
The retailer, which also invested in the indoor agriculture company, will carry its produce at all of its California stores.
By Jeff Wells , Samantha Oller • Jan. 26, 2022 -
Courtesy of Molson Coors
Coca-Cola, Molson Coors to partner on Simply Spiked Lemonade
The RTD alcoholic beverage, which is set to hit shelves this summer, is the second drink to be developed by the two companies, following the launch of Topo Chico Hard Seltzer in 2021.
By Christopher Doering • Jan. 25, 2022 -
Permission granted by Upside Foods
Upside Foods acquires cell-based lobster company Cultured Decadence
The purchase of the Wisconsin firm brings more scientists and technology to the California cultivated meat maker, as well as expertise in crustaceans and other seafood.
By Megan Poinski • Jan. 25, 2022 -
Permission granted by Hain Celestial
Hain Celestial CEO zeroing in on M&A, with 'a lot of firepower' at his disposal
After several years of shedding brands, Mark Schiller said the health and wellness company has about $1 billion it can tap to boost its presence in snacks, plant-based meats and non-dairy beverages.
By Christopher Doering • Jan. 18, 2022 -
Permission granted by Unilever
Report: Unilever to lay off thousands of managers
The decision, first reported by Bloomberg, comes after the CPG company walked away from its bid to buy GlaxoSmithKline's consumer unit and activist investor Nelson Peltz took on a stake.
By Megan Poinski • Updated Jan. 24, 2022 -
Justin Sullivan via Getty Images
Monster Energy enters alcohol with $330M purchase of Canarchy Craft Brewery
The decision to jump into beer and hard seltzer comes as nonalcoholic beverage companies aim to cover more drinking occasions and spur growth.
By Christopher Doering • Updated Jan. 13, 2022 -
Justin Sullivan via Getty Images
Dole seeks acquisitions, sourcing shifts to grow produce supply
The company is focusing on growing its presence in high-selling categories like berries and avocados as it navigates supply disruptions to other products.
By Sarah Zimmerman • Jan. 10, 2022 -
Courtesy of Oterra
Oterra makes first US acquisition with Food Ingredient Solutions
The purchase of the New Jersey-based natural color and antioxidant producer adds to a string of deals by the former Chr. Hansen division.
By Samantha Oller • Jan. 6, 2022 -
Retrieved from Coca-Cola.
Coca-Cola and Constellation Brands launch Fresca cocktails
The pre-mixed drinks, which contain real spirits and zero sugar, are available in two varieties: Vodka Spritz and Tequila Paloma.
By Christopher Doering • Updated Sept. 8, 2022
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