Adrianne DeLuca

Beyond Meat has settled a lawsuit, filed by a group of its stockholders in March 2020 alleging the company’s senior management team, including co-founder and CEO Ethan Brown, former executive chairman Seth Goldman and former CFO Mark Nelson, “breached their fiduciary duties.” The litigation was a derivative action related to an ongoing legal dispute brought against the company by its former co-packer, Don Lee Farms.

Mikuna Foods is looking to introduce Americans to Ecuadorian plant-protein ingredient chocho, announcing today the closing of a $5.6 million seed funding round backed by a “mission-aligned collective of private individuals.” The California-based company plans to use the capital to scale operations, expand its supply network and drive brand awareness.

In this People Moves: Laird Superfood names new COO and SVP of Sales; Nutiva and Coconut Secret Brings on New CEO; Petit Pot Promotes Eric Lallart to CEO and Lonna Borden joins Monogram Capital Partners.

Female PoC-owned sparkling water brand Droplet activated a crowdfunding campaign this month on NuAMP, a new platform dedicated to connecting PoC founders with various forms of capital. Created in collaboration with community fundraising platform NuMarket and AMP, a tech company connecting PoC founders with funding resources, the NuAMP program debuted with seven active crowdfunding campaigns to support diverse founders across the country

The International Panel of Experts on Sustainable Food Systems released a new report last week challenging the “silver bullet” sustainability solutions often touted by leading alternative-protein companies. The comprehensive 104-page report, titled “The Politics of Protein,” aims to contextualize eight of the “most contested” and “potentially misleading” sustainability problem and solution-related claims, into the broad realm of the global food system.

In this week’s Checkout: market research firms IRI and NPD merge, Rao’s Homemade activates its first popup marketplace in NYC, All Y’all’s Foods supports a Texas Ranch turned vegan sanctuary and Kroger Dallas launches Restaurant Supply program.

Conagra reported a 6% increase in organic net sales during Q3 fiscal year 2022, largely driven by consistent consumer demand for its frozen and snack products. However, the company said it experienced “higher-than-anticipated” market inflation throughout the quarter, which it expects will continue to impact pricing across its frozen, refrigerated and snack businesses.

After receiving a $10 million injection of venture capital earlier this month, functional chocolate bar maker Mid-Day Squares is already putting that money to work, bringing on a slate of industry vets to its executive team, breaking ground on a new U.S. production facility and revealing its fourth SKU – Cookie Dough – set to launch this fall.

Plant-based bar brand Zing announced that co-founder and CEO David Ingalls will transition into the newly created role of Chief Innovation Officer while former CMO Grace Erickson will take the helm.

Allergy-friendly and superfood-infused ice cream brand Sunscoop announced today it has raised $2 million in seed funding led by Vibrant Ventures, an investment firm focused exclusively on plant-based CPG, with additional participation from H/L Ventures and Torch Capital, among other early angel investors. The company said it will use the new capital to continue expanding its team, distribution and product portfolio.