Finances and Deals: Page 36
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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 -
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 -
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
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