Corporate Operations: Page 69
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Courtesy of Hostess
Hostess taps former Kraft Foods executive as CFO
Travis Leonard is stepping in as the baked sweets maker shifts its focus from debt reduction to mergers and acquisitions.
By Maura Webber Sadovi • April 11, 2022 -
Courtesy of Beyond Meat
Beyond Meat to settle investor lawsuit about co-manufacturer dispute
The plant-based meat maker plans to pay attorneys' fees, create a risk committee and make changes to its board makeup, but the underlying litigation with Don Lee Farms is still pending.
By Megan Poinski • April 11, 2022 -
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 Kerry
Kerry buys ayurvedic ingredients maker Natreon
The deal brings several functional herbs and extracts associated with Indian traditional health practices to the Irish company's portfolio.
By Megan Poinski • April 7, 2022 -
Permission granted by Del Monte Foods
Del Monte pledges to hit net zero emissions by 2050
The canned produce company plans to reduce or eliminate most of its existing emissions through practices like regenerative agriculture or earth-friendly packaging.
By Christopher Doering • April 7, 2022 -
Kena Betancur via Getty Images
IPOs in Americas plummet 72% during first quarter: EY
Despite several companies going public in recent years, the food and beverage sector has been largely quiet in 2022, with firms like Chobani deciding to delay listing their shares.
By Jim Tyson , Christopher Doering • April 5, 2022 -
Keurig Dr Pepper CEO to step down in July
Bob Gamgort will transition to the role of executive chairman, while CFO Ozan Dokmecioglu will take the helm at the beverage maker.
By Megan Poinski , Christopher Doering • Updated April 5, 2022 -
Permission granted by Anheuser-Busch
AB InBev to invest $50M in St. Louis brewery to boost seltzer production
Despite slowing seltzer sales, the category remains lucrative for beer giants with brands such as Bud Light Seltzer competing with White Claw and Truly.
By Christopher Doering • April 1, 2022 -
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 -
Courtesy of Gotham Greens
Gotham Greens to double its capacity in 2022 as it bolsters retail footprint
The growth will enable the company to serve many of the country’s largest stores, which are seeing an increase in consumer demand for greenhouse-grown produce.
By Christopher Doering • 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 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 -
Retrieved from Stone Brewing.
Molson Coors must pay Stone Brewing $56M in trademark dispute, jury finds
The case hinges on the beer giant's 2017 decision to rebrand its Keystone brew as "Stone." A spokesman said the company is evaluating options for appeal.
By Christopher Doering • March 29, 2022 -
Matt Cardy via Getty Images
Hormel's Jennie-O confirms presence of bird flu in its supply chain
There have been 77 cases of the disease among commercial and backyard flocks as part of this year's outbreak, including a Tyson Foods operation in Kentucky.
By Chris Casey • March 29, 2022 -
Scott Olson via Getty Images
Hershey workers at Virginia plant vote against unionization
The decision bucks what has been a broader trend across the U.S. where some workers have decided to join a union or used their increased clout to strike.
By Christopher Doering • March 28, 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 -
Permission granted by IBM
Taste testing taps into the modernized speed of artificial intelligence
From cutting sugar to discovering new flavors, manufacturers such as Conagra and Danone are turning to the technology to get products to market faster and gain a competitive advantage.
By Christopher Doering • March 24, 2022 -
Courtesy of Plant Based Foods Association
Plant-based price parity will lead to exponential growth, study finds
Alternative proteins could have a 22% market share in meat once the analogs cost the same, Kearney's study found.
By Megan Poinski • March 24, 2022 -
Courtesy of Beyond Meat
Beyond Meat and PepsiCo launch plant-based jerky
The first product under the companies' Planet Partnership joint venture is made of ingredients like peas and mung beans, and will be available in stores nationwide.
By Megan Poinski • March 23, 2022 -
Courtesy of Skinny Butcher
How plant-based Skinny Butcher aims to capture both retail and foodservice markets
The new brand is supported by the manufacturing might of Golden West Food Group, the ghost kitchen reach of Wow Bao, a $10 million VC investment for marketing and the enthusiasm of CEO Dave Zilko.
By Megan Poinski • March 22, 2022 -
Courtesy of Chobani
Chobani names former president to lead company
Kevin Burns was instrumental at making the yogurt maker profitable and more successful when he held the executive role from 2014 to 2016.
By Megan Poinski • March 18, 2022 -
Courtesy of Impossible Foods
Impossible founder steps down, outgoing Chobani president to be CEO
Peter McGuinness, who is leaving the yogurt giant after serving as its president and COO, will take over on April 4, while Pat Brown will become the plant-based company's chief visionary officer.
By Samantha Oller , Megan Poinski • Updated March 17, 2022 -
Permission granted by Anheuser-Busch
AB InBev's EverGrain brings used beer ingredient to snacks and plant-based milks
Told by many he was wasting his time, the CEO of the alcohol giant's subsidiary is introducing spent barley to foods and beverages through partnerships with companies like Nestlé and Post.
By Christopher Doering • March 17, 2022 -
Thai Phi Le/Food Dive
Consumers spent a record $36.9B on candy in 2021
Last year showed a resurgence in sales for all kinds of treats, especially Halloween sweets and gum, according to the National Confectioners Association's annual report.
By Megan Poinski • March 17, 2022 -
Permission granted by Jones Soda
From a turkey-and-gravy soft drink to cannabis, Jones Soda looks for its next high
The company, which plans an aggressive rollout of its new Mary Jones brand where recreational use is legal, is optimistic the offering could eclipse sales of its iconic soda within a few years.
By Christopher Doering • March 16, 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
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