Brad Avery
Posts by Brad Avery
Energy Drinks, ‘Elevated’ Foods Lead Circana’s New Products Pacesetters
The annual report tracks the top 100 food and beverage and top 100 nonfood product launches that completed a full year of sales in 2022, which combined reached $6.8 billion in year-one sales, up from $6 billion the year before. Within food and beverage alone, “New Product Pacesetter” brands reached nearly $3.5 billion in sales, a 19% increase from 2021.
Campbell Soup Company: Snacks Lead Q3 Growth as Soup Remains Flat
The Campbell Soup Company reported Q3 FY2023 earnings in line with its expectations as net sales grew 5%, according to the company’s earnings report this morning. Reported earnings before interest and taxes (EBIT) fell by 14% to $254 million and adjusted EBIT was down 2% to $313 million.
Selva Ventures Looks to Double BFY CPG Portfolio with $34M Fund II
Health and wellness-focused CPG investment firm Selva Ventures announced this week it has closed a $34 million raise for its second fund, which included backing from Unilever Ventures, PagsGroup and Obelysk as well as existing investors.
FaZe Clan Co-Owner’s 1UP Candy Dares Consumers with ‘Sour Gummy Challenge’
Launching online today, 1UP Candy is a startup co-founded by Awadis, co-owner of esports organization FaZe Clan and a YouTuber with over 23.2 million subscribers. The company, which intends to focus on non-chocolate candies, is debuting with a single product: the Sour Gummy Challenge.
Factory, LLC Opens Up Manufacturing Arm
Factory, LLC’s name got a little more literal as the food and beverage investor and brand incubator opened up a 75,000 square foot co-manufacturing facility this year.
Nutrition Brand Aila Acquired by Ex-Olympian Entrepreneur Team
Aila, a maker of pre-workout wellness powders, has been acquired by retired Olympic athletes Andrew Steele and Greg Rutherford for an undisclosed fee.
As Costs Rise, Brands Reconsider D2C; ‘I Think it’s the Beginning of a Trend’
D2C sales growth is leveling out from its explosive heights and the opportunities for startups in the space have tightened to the point that many are simply giving up.
Hershey Q1: Salty Snack Brands Outpace the Category, Confectionery Price Hikes to Come
The Hershey Company set a positive tone for 2023, raising its full year financial outlook after outperforming expectations in its Q1 earnings report today. According to the company, consolidated net sales were up just over 12% in Q1 to $2.9 billion (organic net sales grew 12.2%) while reported net income increased 10.9% to $587.2 million.
Citing ‘Urgent’ Climate Crisis, Quorn’s Parent Company Opens B2B Ingredient Division
U.K.-based Marlow Foods, owner of legacy plant-based meat alternative brand Quorn, announced this week the launch of a new division to begin selling its flagship mycoprotein ingredient to other food and beverage companies.
Nuts for Acorns: Folk Revival Launches Acorn-Added Cereal Cup Line
Winter hibernation may be over, but New York-based startup Folk Revival is taking a cue from the squirrels with its line of hot cereal cups featuring a healthy serving of acorn. Founded in 2021 by CEO David Cantor, Folk Revival is a line of grain-free hot cereal cups made with hemp, nuts, coconut and, its hero ingredient, acorns.