Posts by Carol Ortenberg
Tyson Ventures, the investment arm of meat producer Tyson Foods, is no longer an investor in Beyond Meat. Tyson told NOSH that it remains committed to offering alternative proteins and plans to launch its own products into the category.
The company initially announced its IPO in November 2018; over the past month it has submitted updated filings that provide more insight into the company’s sales and progress to date, as well as its plans for the future.
Just over a month after taking a stake in Uplift Foods, Mondelēz announced today its second investment in Hu Master Holdings, the parent company of both CPG brand Hu Products and fast-casual restaurant concept Hu Kitchen. Hu Chairman and Co-Founder Jason Karp told NOSH the investment will allow the emerging brand to scale and increase accessibility of its products.
Back to the Roots this week announced the launch of its Organic Hemp Starter Grow Kit. The kit allows consumers to grow five hemp plants that can be used to produce hemp oil, hemp tea or hemp hearts.
Organic food producer Tessemae’s is ready to move on to the next stage — a warmer one. Today the brand announced it will begin selling shelf-stable products with the launch of Tessemae’s Pantry, a new line of salad dressings. The company is also reformulating its condiments line to be shelf-stable.
Protein snack producer Lenny and Larry’s has upped the cash reimbursement available to consumers in a settlement offer in order to conclude litigation around the product’s protein claims. The changes came after the U.S. Department of Justice’ Consumer Protection Branch urged a federal judge in Illinois to reject the company’s previous offer as too low.
Magic Spoon cereal co-founders Gabi Lewis and Greg Sewitz hope to do for cereal what Halo Top did for ice cream: revamp an “outdated” indulgence product type with engaging branding and a strong macronutrient profile. Magic Spoon will initially be sold online for roughly $10 a box, with a four-box minimum order.
Hal’s New York is moving beyond beverage. Last week the brand, which is backed by and distributed through New York DSD powerhouse Big Geyser, launched a line of bagged kettle chips and popcorn.
While the appetite for investment in meat snacks may be waning somewhat, investors are still hog wild for innovative brands in the category. Yesterday meat snack brand 4505 Meats announced the close of a round of funding led by Encore Capital, with investment firm CircleUp also taking part.
Last year John Roulac, the former CEO and founder of superfood brand Nutiva, started a CBD business as a “hobby.” Now RE Botanicals is in 150 doors with commitment for another 850, has 10 employees and as of today, a backer with money. The company announced today the close of a $2 million round of funding, with $1 million of the investment from firm BIGR Ventures.