The Top 10 Most Read Nosh Stories of 2024
The most popular stories on Nosh this year represent a balanced diet of turmoil and triumphs. A handful of acquisition announcements captured readers’ attention, in addition to some ongoing bagel drama and a legal battle over peanut butter and jelly sandwiches. Read on for the good, the bad and the cringey.
10. Rainforest Distribution Acquires New England Distributor Associated Buyers
The year began on a positive note for Rainforest Distribution Corp., which announced in early January its acquisition of New England natural and specialty foods distributor Associated Buyers. The combination was expected to provide local and emerging food brands “with a more robust platform to scale and reach the end-consumer,” according to Alexander Ridings, CEO of Rainforest Distribution.
9. Bad Bread? BetterBrand Claims ‘No Truth’ To Shutdown Rumors
In October, BetterBrand rode the rumor roller coaster as several media outlets speculated the maker of low-carb bagels and rolls was in the process of shutting down. Its website was temporarily listed as no longer active, customer complaints regarding unfulfilled orders began to mount, emails from customer support hinted at bizarre takeover conspiracies, and the owner, Aimee Yang, was even said to be hiding out in Europe. BetterBrand itself carries a reported valuation of $170 million – so as an early-stage brand, the long knives came out pretty fast.
Then, the company released a statement alleging a group of since-terminated employees conspired with online fulfillment partners to steal inventory and money. The explanation for delayed orders countered a previous update shared with online customers a couple days earlier stating the company was “battling a hostile takeover event by a number of large institutions.”
8. The Simply Good Foods Company Acquires OWYN
The Simply Good Foods Company in late April agreed to acquire Only What You Need (OWYN) for $280 million in a cash transaction from an affiliate of Purchase Capital LLC and minority investors. OWYN, which sells a range of allergen-free, plant-based protein shakes, marks the third addition to Simply Good Foods’ portfolio, which also includes Atkins and Quest Nutrition.
In June, DayDayCook acquired “loud, proud” Asian sauce and noodle brand Omsom in a deal consisting of cash and stock paid out over a four-year term. The transaction marked a continuation of DayDayCook’s buying spree in the preceding months that included the additions of Nona Lim and Yai’s Thai to its portfolio.
“Our presence in the U.S. is rapidly growing with the addition of Omsom to our U.S. family of brands,” said DayDayCook founder Norma Chu, in a press release. “Having three notable Asian food brands in our portfolio will create enhanced synergies and resource integration, and make our operations more efficient and profitable.”
6. Tyler Ricks Named CEO At Caulipower
Tyler Ricks joined Caulipower as its new CEO in May. He previously held leadership positions at Super Coffee, Peet’s Coffee and Bear Naked Granola, among other brands, and replaced departing CEO Marc Seguin, who helmed the company over the past two years, succeeding founder Gail Becker in the role. Ricks’ appointment came as the frozen food company prepared to enter a new phase of growth.
5. Report: Food and Beverage Innovation Plummets Nearly 50% in 2024
A combination of rising ingredient prices, raw material shortages and downsized product portfolios left creativity in short supply for many packaged food and beverage companies. According to a Mintel report released in July, only 35% of global launches spanning the food, drink, household, health and beauty industries in 2024 were genuinely new products – the lowest rate of innovation since Mintel began tracking new products in 1996.
4. PepsiCo Acquiring Siete Foods for $1.2 Billion
In October, PepsiCo, Inc. announced it entered into a definitive agreement to acquire Mexican-American family-owned Siete Foods for $1.2 billion. The addition builds on the legacy food and beverage maker’s better-for-you offerings while expanding its multicultural portfolio.
“Siete was created 10 years ago to make heritage-inspired, Mexican-American food more widely available. Now we’re excited to embrace a new era with PepsiCo and bring our inclusive, better-for-you products to more people,” said Miguel Garza, CEO and co-founder of Siete Foods, in a press release. “We hope this next chapter for Siete serves as inspiration for other Latino businesses, showing that it’s possible to build a thriving brand that honors our heritage and celebrates our culture.”
3. Vendor Says BetterBrand Social Media Claims Are False
The so-called “Bagel-gate” boiled over in mid-October when Cold Chain 3PL stated it was not working with BetterBrand, an assertion that ran counter to the embattled low-carb bread company’s claims that the third-party logistics provider had “reached out and offered to help” amidst what BetterBrand claimed was an employee-led mutiny.
In a social media post, BetterBrand had cited its partnership with Cold Chain 3PL in an attempt to show stability in the face of ongoing turmoil and speculation about the company’s viability. ColdChain 3PL co-founders quickly clarified in an email to customers that it was “not fulfilling orders, and never agreed to do so, as the company has been on credit hold for 60+ days due to significant past due invoices.”
2. PB&J Wars: Why Is Smucker Suing Chubby Snacks?
The J.M. Smucker Company filed a lawsuit in September against frozen sandwich producer Chubby Snacks, accusing the startup of false advertising, trademark violations and disparagement in “years of advertising designed to tarnish the name and reputation” of Smucker’s competing Uncrustables brand.
The lawsuit claimed Chubby Snacks waged “a relentless assault on the fame and goodwill” of the Uncrustables trademark in numerous social media posts and other marketing materials, which allegedly implied that Uncrustables products are unhealthy and that the brand is a “healthier version of Uncrustables.”
1. Struggling CPG Lender Ampla Up For Sale, Brands Face Credit Concerns
In April, an important source of working capital for early-stage food and beverage entrepreneurs was in turmoil as fintech consumer brand lender Ampla and its investors spent several weeks fighting off collapse.
BevNET and Nosh confirmed that, after several weeks of activity that raised concern among individual clients, Ampla was selling off the company’s credit book and other assets as it fought to survive.
