Finances and Deals: Page 33
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Courtesy of Bowery Farming
Indoor farming to reach an estimated $155.6B by 2026: PitchBook
The space could see a more than 14% growth rate, driven by enthusiasm for the sustainability pitch of players like Bowery Farming and Upward Farms, a new report finds.
By Samantha Oller • April 4, 2022 -
Courtesy of Diageo
Diageo acquires super-premium tequila brand 21Seeds
The purchase of the startup for an undisclosed amount accelerates the company's move into more trendy and higher-margin beverages.
By Christopher Doering • April 1, 2022 -
Explore the Trendline➔
Spencer Platt via Getty Images
TrendlineInside the functional beverage frenzy
Major companies like PepsiCo and Monster are adding ingredients to boost emotional or physical wellness as consumers demand more out of their drinks.
By Food Dive staff -
Courtesy of MycoTechnology
MycoTechnology raises $85M for innovation and international expansion
In its Series E round, the fermented mushroom ingredient giant received money from the venture arms of Griffith Foods, Tyson Foods, Bunge, Continental Grain and Maple Leaf Foods.
By Megan Poinski • March 31, 2022 -
Permission granted by Hostess Brands
Deep DiveWith a portfolio of iconic snacks, Hostess Brands sweetens its business for another century
Just a decade after bankruptcy, the Twinkies maker is thriving under CEO Andy Callahan, who has prioritized innovation and moving its iconic offerings into faster-growing occasions.
By Christopher Doering • March 30, 2022 -
Courtesy of Eat Just
Plant-based food sales hit $7.4B in 2021
Statistics from SPINS, the Good Food Institute and the Plant Based Foods Association showed the segment's growth moderated last year, but continued to increase at a rate three times larger than food in general.
By Megan Poinski • March 30, 2022 -
Courtesy of Ynsect
Ynsect expands to the US with mealworm farm addition
This gives the France-based company a foothold toward making ingredients for human food in America, which are likely to be targeted to the sports nutrition and health markets.
By Megan Poinski • March 29, 2022 -
Megan Poinski/Food Dive
After a record 2021, food tech investments will keep coming, conference panel says
At Future Food-Tech in San Francisco last week, several investors detailed why people are getting excited about the space and what will lead the dollars to continue to flow.
By Megan Poinski • March 28, 2022 -
Courtesy of Lightlife
CP Kelco makes plant-based a priority with Shiru partnership and new ingredients line
The ingredient company is targeting meat alternative makers that want cleaner labels with more natural options, and working with the tech startup to develop and commercialize similarly functioning proteins in plants.
By Megan Poinski • March 24, 2022 -
Courtesy of Local Bounti
Local Bounti to acquire indoor farming operator Pete's for $122.5M
The company's first acquisition since going public last November will allow it to expand its retail distribution footprint from roughly 500 stores to more than 10,000.
By Samantha Oller • March 16, 2022 -
Courtesy of Tender
Tender raises $12M to make more realistic plant-based meat
After its beginnings creating scaffolding for cultivated meat, the company is now spinning plant fibers like cotton candy to develop analogs that have a more similar texture to animal meat.
By Megan Poinski • March 15, 2022 -
Mario Tama via Getty Images
Nearly 80% of food and beverage companies have passed on higher costs to customers, survey finds
According to Mazars' research, 83% of respondents expected sales to increase in 2022, while 54% identified higher shipping costs as their primary concern.
By Christopher Doering • March 14, 2022 -
Getty Images
How Yali Bio plans to revolutionize alternative fats
The startup, which recently closed a $3.9 million seed round, is using precision fermentation to recreate naturally occurring fats for plant-based meat and dairy products.
By Megan Poinski • March 10, 2022 -
Permission granted by Phytolon
Ginkgo Bioworks partners with Phytolon on natural colors
The biotech powerhouse will work to improve and scale processes of the Israel-based company that uses precision fermentation to make yellow, purple and pink pigments.
By Megan Poinski • March 3, 2022 -
Permission granted by Ingredion
Disruption has drawn ingredient suppliers and food manufacturers closer, Ingredion CEO says
Jim Zallie said reduced R&D budgets, changing consumer tastes and an urgency to get products to market faster has created "more intimate relationships" between the two sides.
By Christopher Doering • March 3, 2022 -
Permission granted by Belgian Boys
Kind founder's fund leads $7M Belgian Boys investment
Through the money and a partnership, Daniel Lubetzky's Equilibra Ventures will help the European-style sweet snacks and breakfast company expand globally.
By Megan Poinski • March 1, 2022 -
Courtesy of Good Culture
Good Culture raises $64M for cultured foods expansion
The cottage cheese brand has attracted funding from investors including actress Kristen Bell as it looks to bring health benefits like probiotics into new product categories.
By Chris Casey • Feb. 24, 2022 -
Courtesy of Wildtype
Wildtype receives $100M investment
The cell-based seafood company plans to use the funding to expand production of sushi-grade salmon as it prepares for a U.S. launch.
By Megan Poinski • Feb. 23, 2022 -
Courtesy of The Kraft Heinz Not Company LLC
Kraft Heinz enters joint venture with NotCo
The partnership will develop and produce plant-based co-branded products, combining the CPG giant's vast portfolio and reach with the startup's ability to reimagine animal-derived food.
By Megan Poinski • Feb. 23, 2022 -
Christopher doering/Food Dive
Deep DiveOnce an afterthought, brand licensing reaps billions for CPGs hungry for growth
Hershey, Conagra and Post are a few companies using the strategy to expand their business, build equity and keep products relevant.
By Christopher Doering • Feb. 22, 2022 -
Fiona Goodall via Getty Images
Kerry buys 2 biotech companies for more than $226M
The acquisition of Germany's C-LEcta and Mexico's Enmex will help the Irish ingredients company expand its enzymes and precision fermentation business.
By Megan Poinski • Feb. 17, 2022 -
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
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